Prospects

For the 8 weeks to 23 August 2009, total sales increased by 5,5% and comparable sales increased by 1,3%.

As is evident from this sales update, the South African consumer remains under pressure. Until there are clear signs of recovery in consumer expenditure, management remains focused on protecting the income statement and balance sheet, whilst continuing to invest for growth where returns are clear.

The first-half of the 2010 financial year will undoubtedly be very difficult as we trade over a reasonably resilient first-half last year, and we may see profit decline compared to that period. Profit growth for the full financial year will depend on the timing of any economic recovery – there may be no profit growth if this recovery is delayed past December 2009.

The financial information on which this outlook statement is based has not been reviewed or reported on by the company’s auditors.