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TRU - Truworths International Limited - Business update Truworths International Limited (Incorporated in the Republic of South Africa) (Registration number 1944/017491/06) JSE Code: TRU NSX Code: TRW ISIN: ZAE000028296 BUSINESS UPDATE Truworths International Limited (`the Group`) announces that, in a challenging trading environment, Group retail sales for the first 18 weeks of the 2009 financial period increased by 14% to R 2 065 million relative to the corresponding period in 2008. Group same store retail sales were 8% higher, product inflation was approximately 6% and trading space increased by 10% relative to the corresponding period in 2008. The debtors book increased by 11% to R2.3 billion relative to the corresponding period in 2008. The performance of the debtors` book remains satisfactory, with collection levels improving. Net bad debt as a percentage of the book increased marginally from the levels reported at June 2008, in line with expectations. Interest income earned from the book continues to exceed trade receivable costs. Operating expenses remain well controlled and gross margins track the targeted levels for the 2009 period. The trading environment is currently difficult and management does not expect conditions to change materially for the remainder of the half year. However the Group does anticipate achieving satisfactory growth for the financial period ended June 2009. Furthermore management remains committed to achieving the financial targets detailed in the Group`s 2008 annual report. Shareholders are advised that the financial information contained in this update has neither been reviewed nor reported on by the external auditors, and that the Group`s interim results for the 26 week period to 28 December 2008 are scheduled to be announced on or about 18 February 2009. 6 November 2008 Cape Town Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Ltd Date: 06/11/2008 09:45:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
