Q. when is a forcast, not a forcast?
A. when it's "considered"
INCORPORATED IN NEW SOUTH WALES AUSTRALIA IN 1883
PRINCIPAL COMPANY OF THE BURNS PHILP GROUP OF COMPANIES
BURNS, PHILP & COMPANY LIMITED
ABN 65 000 000 359
LEVEL 23, 56 PITT STREET
SYDNEY NSW 2000
GPO BOX 543
SYDNEY NSW 2001
AUSTRALIA
TEL: NATIONAL (02) 9259 1111
TEL: INT’L +61 (2) 9259 1111
FAX: (02) 9247 8391
6 November, 2003
Mr Graham Gates
Announcements Officer
Australian Stock Exchange Limited
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000
Dear Mr Gates
ARTICLE IN AUSTRALIAN FINANCIAL REVIEW – 6 NOVEMBER 2003
The Company notes the contents of an article published today in the Australian Financial Review
entitled “Burns set to lift earnings 70%”, which discussed a number of analysts’ estimates of the
Company’s projected earnings for the 2004 financial year.
The Company, in response to media commentary and enquiries, considers that its EBITDA
(earnings before interest, tax, depreciation and amortisation) for the 2004 financial year will fall
within the range of estimates currently being made by analysts, which it understands to be
between $570 million and $650 million.
However, the Company is not itself forecasting an EBITDA range for the 2004 financial year. The
Company notes that whether or not it achieves the forecasts made by analysts is subject to a
number of variables, in particular the effect of movements in the Australian dollar against the
United States Dollar.
Yours sincerely,
HELEN GOLDING
Company Secretary
BPC
burns, philp & company limited
