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WHL - Woolworths Holdings Limited - Trading update and trading statement

Release Date: 17/01/2012 08:00
Code(s): WHL
Wrap Text

WHL - Woolworths Holdings Limited - Trading update and trading statement Woolworths Holdings Limited (Incorporated in the Republic of South Africa) Registration number 1929/001986/06 Share code: WHL ISIN: ZAE000063863 ("the Group") TRADING UPDATE AND TRADING STATEMENT TRADING UPDATE: 26 WEEKS TO 25 DECEMBER 2011 Group sales for the first 26 weeks of the 2012 financial year increased 11.4% over the comparable period in 2011. Sales in comparable stores grew by 7.7%. Clothing sales in South Africa grew by 11.2% with a price movement of 7%. Sales in comparable stores grew by 5.9%, up from 4.9% at 20 weeks. Food sales grew by 11.7% with price movement of 4.8%. Sales in comparable stores grew by 8.4%, up from 7.2% at 20 weeks. General merchandise grew by 6.2% and by 4.2% in comparable stores, up from 2.5% at 20 weeks. Woolworths retail space, including Africa, grew by 2.3% year-on-year, net of closures and excluding franchise conversions. Franchise store conversions are on track with 50 stores now converted. A further 8 will be converted during the balance of the year and 17 stores will remain franchised. Converted franchise stores are treated as non-comparable. Sales in Australia contracted 2.8% in Australian dollar terms, with sales in comparable stores declining by 5.5%. Space in Australia grew by 0.7%. Country Road`s South African sales are included in the South African clothing segment. The Woolworths Financial Services debtors` book reflected year on year growth of 6.7% at the end of December 2011. The impairment rate for the six months to December 2011 was 1.7% compared with 1.6% for the equivalent period last year. TRADING STATEMENT We expect that both earnings per share ("EPS") and headline earnings per share ("HEPS") for the 26 week period to 25 December 2011 will be between 30- 35% higher than the corresponding reporting period. Included in both EPS and HEPS is a R41m post-tax unrealised gain from the mark-to-market of foreign exchange contracts open at 25 December 2011. Shareholders are advised that the financial information contained in this announcement has not been reviewed and reported on by the Group`s external auditors. The Group`s interim results for the 26 week period to 25 December 2011 are scheduled to be announced on SENS on or about 16 February 2012. Contact: Ian Moir (Group chief executive officer) on 021 407 2809 Norman Thomson (Group finance director) on 021 407 3337 Cape Town 17 January 2012 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 17/01/2012 08:00:14 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.

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