In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they are reasonably satisfied that the financial results for the period to be reported upon next will differ by at least 20% from the previous corresponding period.
Accordingly, Edcon advises that its sales for the 26 weeks ended 1 October 2005 will be approximately 22% higher than the 27 weeks ended 2 October 2004. The comparable 26 week period sales will be 27% above last year.
As indicated in the prospects statement and reaffirmed in the July trading update, on this activity growth the Group expects the growth in its diluted headline earnings per share for the 26 weeks ended 1 October 2005 to be greater, at between 25% and 30% higher than the 27 weeks ended 2 October 2004. Based on like-for-like trading weeks, diluted headline earnings per share will have risen between 35% and 40%. Earnings per share will reflect similar growth levels. All increases are after the 5% impact on current earnings of the recently announced Staff Empowerment Transaction.
In accordance with the JSE Listing Requirements 3.4 (b)(vi)(2), this estimate has not been reviewed nor reported on by the company's external auditors.