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WOOLWORTHS HOLDINGS LIMITED - TRADING AND CAUTIONARY STATEMENT

Release Date: 02/02/2004 15:08
Code(s): WHL
Wrap Text

WOOLWORTHS HOLDINGS LIMITED - TRADING AND CAUTIONARY STATEMENT WOOLWORTHS HOLDINGS LIMITED ("Woolworths") Registration number 1929/001986/06 ISIN: ZAE000028288 JSE Code: WHL TRADING AND CAUTIONARY STATEMENT In terms of the new JSE Listings Requirements, which became effective on 1 September 2003, companies are required to disclose any material change in their comparative financial results as soon as they become aware thereof. In compliance with this requirement, Woolworths Holdings Limited advises that earnings and headline earnings for the 26 week period to 31 December 2003 are forecast by management to be materially (between 10% and 30%) higher than those reported for the prior corresponding half year. Woolworths operating group increased sales for the six months from July to December 2003 by 13.7% compared to the same period last year. Trading in the South African operations met expectations, however, trading in the international franchise stores in the Middle East and Africa was negatively impacted by the strong rand. This has lead to the recently established franchise in Saudi Arabia being terminated as it could not meet the viability targets. The impact of stock cancellations and related costs arising from these difficulties has been accounted for in this period. As this forecast has been neither reviewed nor reported on by the group"s external auditors, holders of Woolworths shares are advised to exercise caution in dealing in their shares until the group"s results for the period are published on or about 12 February 2004. Contact : Simon Susman : Chief Executive Officer 083 252 5696 Norman Thomson : Finance Director 083 251 6354 Sponsor HSBC Date: 02/02/2004 03:08:02 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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