The Company advises that sales for the first quarter (2 August 2008 to 31 October 2008) show a decline of 6.7% on the same period last year. Trading conditions in New Zealand have been more difficult than Australia, with New Zealand -8%, and Australia +1% on last year. Projected earnings for the first half to 1 February 2009 are difficult to predict due to the uncertain nature of the market and the significant impact that December has on earnings. However, directors advise that given current trends, profit will be considerably below the prior year profit. A further update will be given at the Company’s Shareholder meeting on 18th December 2008.