/ 18 November 2000

EDGARS EARNINGS SAG

CLOTHING retailer Edgars Consolidated Stores (Edcon) reported a sharp decline in interim earnings and said it did not expect an improvement at year-end. Edcon reported headline earnings per share at 98 cents versus R1.46 previously. The dividend for the six months to September 30, 2000, was 36 cents from 55 cents last time. Edcon had primed the market for the poor results in a profit warning it issued in September, but added that its turnaround strategy was still on track. – Reuters