11 February 1999: South Africa“s Plate Glass and Shatterprufe Industries Ltd. (PGSI) said that tough trading conditions would have a deeper impact than initially anticipated on group year results.
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11 February 1999: South Africa“s Plate Glass and Shatterprufe Industries Ltd. (PGSI) said that tough trading conditions would have a deeper impact than initially anticipated on group year results. “The results for the full year ending March 1999 will therefore be significantly lower than envisaged at the half year,” the company said in a statement. The company warned back in November that it would be hard pressed to match the 6.24-rand headline earning per share it posted for the 1998 financial year. “In the event, the decline in South African trading conditions has steepened. Further, the trading performance of Safelite in the US, adversely affected by unexpectedly difficult market conditions, has severely impacted results.” The company also informed shareholders that talks over the disposal of South African Breweries“ stake in PGSI continued and could also have an impact on its share price.