HOME     SUBSCRIBERS     TRADE     PRODUCTS & SERVICES    
About Sharenet
Enter any share name or code:    

08-Nov-2018
(Official Notice)
Shareholders of AVI are advised that AVI?s shares have been approved for inclusion in the list of qualifying equity securities to be traded on A2X with effect from 15 November 2018 (the "A2X listing date"). AVI will retain its primary listing on the JSE Limited ("JSE") and its issued share capital will be unaffected by its secondary listing on A2X. AVI ordinary shares will be available to be traded on both the JSE and on A2X from the A2X listing date.



A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies and is regulated by the Financial Sector Conduct Authority in terms of the Financial Markets Act 19 of 2012.

01-Nov-2018
(Official Notice)
Shareholders are advised that the voting results for the Annual General Meeting ("AGM") of AVI held at 11h00 on Thursday, 1 November 2018, all resolutions were passed by the requisite majority of AVI shareholders present in person or represented by proxy at the AGM.
02-Oct-2018
(Official Notice)
Shareholders of AVI (?Shareholders?) are advised that AVI commenced posting of its integrated annual report for the year ended 30 June 2018 on Tuesday, 2 October 2018. The integrated annual report contains no modifications to the preliminary results that were published on the Stock Exchange News Service (?SENS?) of the JSE Ltd. on Monday, 10 September 2018, and accordingly the Company will not publish an abridged report. The integrated annual report is also available on the Company?s website at www.avi.co.za.



Notice of Annual General Meeting

Notice was given that AVI's annual general meeting will be held at 2 Harries Road, Illovo, Sandton, at 11:00 on Thursday, 1 November 2018 to transact business as stated in the notice of the annual general meeting circulated together with the integrated annual report.



The record date for Shareholders to participate in and vote at the annual general meeting is Friday, 26 October 2018. Accordingly the last day to trade to participate in and vote at the annual general meeting is Tuesday, 23 October 2018.



BEE Annual Compliance Report

In compliance with paragraph 16.20(g) of the Listings Requirements of the JSE Ltd., shareholders are advised that AVI?s annual compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act has been published and is available on the Company?s website at www.avi.co.za.
10-Sep-2018
(C)
25-Jul-2018
(Official Notice)
12-Mar-2018
(C)
28-Feb-2018
(Official Notice)
Ms Andisiwe Kawa has resigned as a non-executive director of the company with effect from 27th February 2018, to pursue personal interests. Ms Kawa has been a Board Member since July 2015.
30-Jan-2018
(Official Notice)
Shareholders are advised in terms of paragraph 3.78 of the JSE Listings Requirements that Ernst - Young Inc. (?EY?) has been appointed as the company?s external auditors, with Ms Penelope Wittstock as designated audit partner for the current financial year ending 30 June 2018.
23-Jan-2018
(Official Notice)
24-Nov-2017
(Official Notice)
Shareholders are referred to the announcement released on SENS on 26 October 2017 and are advised that the AVI Board has, after review, decided not to pursue the expressions of interest received for certain of the Group?s business units. Accordingly, shareholders are no longer required to exercise caution when dealing in their AVI shares.
02-Nov-2017
(Official Notice)
Shareholders are advised of the voting results for the annual general meeting (?AGM?) of AVI held at 11h00 on Thursday, 2 November 2017. All resolutions were passed by the requisite majority of AVI shareholders present in person or represented by proxy at the AGM.

26-Oct-2017
(Official Notice)
Shareholders are advised that AVI has received a number of expressions of interest (?EOI?) for certain of the Group?s business units which may be value enhancing for shareholders. The AVI Board has appointed Rand Merchant Bank to assist it in evaluating these EOI?s. Accordingly, shareholders should exercise caution when dealing in their AVI shares until a further announcement is made.
06-Oct-2017
(Official Notice)
Shareholders are advised that AVI has withdrawn ordinary resolution number 2 from consideration at the seventy-third annual general meeting to be held on Thursday, 2 November 2017, at 2 Harries Road, Illovo, Johannesburg. The withdrawal of the ordinary resolution is as a result of the termination of KPMG as the Company?s external auditors, which notice was released on SENS earlier today.



06-Oct-2017
(Official Notice)
KPMG has been AVI?s auditor since 2000. The firm provided a robust, independent and highly competent service to the group and its shareholders during this time.



The Board of AVI has considered the information relating to KPMG and certain of its past activities that is currently available to it, and has concluded that it is appropriate to give notice to KPMG. The termination will be effective on the close-out of all matters pertaining to the 2017 financial year-end audit, but no later than the end of November 2017.



New external auditors will be appointed and announced in due course.



29-Sep-2017
(Official Notice)
Shareholders of AVI (?Shareholders?) are advised that AVI commenced posting of its integrated annual report for the year ended 30 June 2017 on Friday, 29 September 2017. The integrated annual report contains no modifications to the preliminary results which were published on the Stock Exchange News Service (?SENS?) of the JSE Limited on Monday, 11 September 2017, and accordingly the Company will not publish an abridged report. The integrated annual report is also available on the Company?s website at www.avi.co.za.



Notice of Annual General Meeting

Notice is hereby given that AVI's annual general meeting will be held at 2 Harries Road, Illovo, Sandton, at 11:00 on Thursday, 2 November 2017 to transact business as stated in the notice of the annual general meeting circulated together with the integrated annual report.



The record date for Shareholders to participate in and vote at the annual general meeting is Friday, 27 October 2017. Accordingly the last day to trade to participate in and vote at the annual general meeting is Tuesday, 24 October 2017.



BEE Annual Compliance Report

In compliance with paragraph 16.20(g) of the Listings Requirements of the JSE Limited, shareholders are advised that AVI?s annual compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act has been published and is available on the Company?s website at www.avi.co.za.
11-Sep-2017
(C)
24-Jul-2017
(Official Notice)
06-Mar-2017
(C)
24-Jan-2017
(Official Notice)
25-Nov-2016
(Official Notice)
Mr Richard Inskip has resigned as a non-executive director of the Company with effect from 23rd November 2016. Mr Inskip has been a Board Member since June 2014.

07-Nov-2016
(Official Notice)
Notice is hereby given as required in terms of Section 45(5) of the Companies Act that pursuant to the authority granted to the board of AVI by its shareholders at the annual general meeting of shareholders held on 3 November 2016, the board of AVI has adopted a resolution to continue to provide direct or indirect financial assistance (including by way of loans and guarantees)to related or inter-related entities in the ordinary course of business, as contemplated in section 45 (2) of the Companies Act.



AVI will be delivering a copy of this announcement to shareholders recorded in the register on 28 October 2016, as written notice of that resolution, in compliance with section 45(5) of the Companies Act.
03-Nov-2016
(Official Notice)
Shareholders are advised that the voting results for the Annual General Meeting (?AGM?) of AVI held at 11h00 on Thursday, 3 November 2016. Based on the above results, all resolutions were passed by the requisite majority of AVI shareholders present in person or represented by proxy at the AGM.

04-Oct-2016
(Official Notice)
Shareholders of AVI (?Shareholders?) are advised that AVI commenced posting of its integrated annual report for the year ended 30 June 2016 on Tuesday, 4 October 2016. The integrated annual report contains no modifications to the preliminary results which were published on the Stock Exchange News Service (?SENS?) of the JSE Ltd. on Monday, 12 September 2016, and accordingly the company will not publish an abridged report.



Notice of Annual General Meeting

Notice is hereby given that AVI's annual general meeting will be held at 2 Harries Road, Illovo, Sandton, at 11:00 on Thursday, 3 November 2016 to transact business as stated in the notice of the annual general meeting circulated together with the integrated annual report.



The record date for shareholders to participate in and vote at the annual general meeting is Friday, 28 October 2016. Accordingly the last day to trade to participate in and vote at the annual general meeting is Tuesday, 25 October 2016.

12-Sep-2016
(C)
21-Jul-2016
(Official Notice)
The groups brands performed well in a constrained demand environment with a sound second semester performance from the grocery and personal care brands. The impact of input cost pressures arising from the weaker Rand was limited by currency hedges, selling price increases and disciplined cost management.



Group revenue rose by 8% and both gross profit and operating profit margins were higher than in the prior year. Sales volumes in the footwear businesses in the second semester were constrained by additional price increases necessary to ameliorate the impact of the weaker Rand. Conversely, I-J benefitted from the currency weakness and an improved contribution from its Australian seafood joint venture, despite a cyclical decline in fishing catch rates and a smaller fish size mix.



The weighted average number of shares in issue during the period was 0,8% higher than in the same period last year due to the issue of new shares in terms of the groups various share incentive schemes, including the black staff empowerment share scheme.



The following disclosure is made:

*Consolidated headline earnings per share for the year ended 30 June 2016 are expected to increase by between 10% and 11% over the prior year. In cents per share this will be an increase from last year's 419,7 cents to a range between 461 and 466 cents per share;

*Consolidated earnings per share for the year ended 30 June 2016, including capital gains and losses, are expected to increase by between 10% and 11% over the prior year. In cents per share this will be an increase from last year's 417,7 cents to a range between 459 and 464 cents per share.



It is expected that AVI will release its results for the year ended 30 June 2016 on or about 12 September 2016.



The information above has not been reviewed and reported on by the group's auditors.



07-Mar-2016
(C)
26-Jan-2016
(Media Comment)
According to Business Day consumer brands group AVI is set to report consistent profit growth in the first half of its financial year, despite the marked deterioration in the economy and household spending over the period. The profit growth is commensurate with that achieved in the first halves of the previous two years, signalling AVI's resilience in a tough consumer environment in which household budgets have been tightened by rising inflation and interest rates, slow wage growth and stubbornly high unemployment. AVI said profits for the forthcoming period would be lifted by gains from its currency derivatives to manage potential foreign exchange losses.
25-Jan-2016
(Official Notice)
In general the Group?s brands traded well in a constrained consumer environment with the impact of input cost pressures arising from the weaker Rand limited by currency hedges, disciplined cost management and selling price increases taken in the second half of the prior financial year.



Demand through the festive season was sound and Spitz achieved its December sales target. I-J experienced better fishing than in the final quarter of the 2015 financial year and enjoyed improved export margins as a result of the weaker Rand.



The weighted average number of shares in issue during the period was 0,8% higher than in the same period last year due to the issue of new shares in terms of the Group?s various share incentive schemes, including the black staff empowerment share scheme.



The following disclosure is made in accordance with Section 3.4 (b) of the Listings Requirements of the JSE Limited:

*Consolidated headline earnings per share for the six months ended 31 December 2015 are expected to increase by between 10% and 12% over the comparable period in the prior year. In cents per share this will be an increase from last year?s 252,9 cents to a range between 278 and 283 cents per share;

*Consolidated earnings per share for the six months ended 31 December 2015, including capital gains and losses, are expected to increase by between 10% and 12% over the comparable period in the prior year. In cents per share this will be an increase from last year?s 252,5 cents to a range between 278 and 283 cents per share.



It is expected that AVI will release its results for the six months ended 31 December 2015 on or about 7 March 2016.



05-Nov-2015
(Official Notice)
Shareholders are advised that the voting results for the Annual General Meeting (?AGM?) of AVI held at 11h00 on Thursday, 5 November 2015 Based on the results, all resolutions were passed by the requisite majority of AVI shareholders present in person or represented by proxy at the AGM.

06-Oct-2015
(Official Notice)
Shareholders of AVI (?Shareholders?) are advised that AVI commenced posting of its integrated annual report for the year ended 30 June 2015 on Tuesday, 6 October 2015. The integrated annual report contains no modifications to the preliminary results which were published on the Stock Exchange News Service (?SENS?) of the JSE Limited on Monday, 7 September 2015, and accordingly the Company will not publish an abridged report.



Notice of Annual General Meeting

Notice is hereby given that AVI's annual general meeting will be held at 2 Harries Road, Illovo, Sandton, at 11:00 on Thursday, 5 November 2015 to transact business as stated in the notice of the annual general meeting circulated together with the integrated annual report.



The record date for Shareholders to participate in and vote at the annual general meeting is Friday, 30 October 2015. Accordingly the last day to trade to participate in and vote at the annual general meeting is Friday, 23 October 2015.
07-Sep-2015
(C)
21-Jul-2015
(Official Notice)
10-Mar-2015
(Media Comment)
Business Day highlighted that branded consumer goods company AVI is investing about R65 million to grow its coffee creamer production capacity, as demand for the milk and cream substitute grows. The company said it grew creamer revenue 23.9% in the six months ended December as a result of greater demand, market share gains and higher selling prices. AVI CEO Simon Crutchley indicated that the company estimated it had grown its share of the South African creamers market to slightly below 40%.
09-Mar-2015
(C)
23-Jan-2015
(Official Notice)
Overall sales performance was sound in a tough trading environment with the group realising higher selling prices in all categories following significant accumulated cost pressure from the weaker Rand. Volume growth was achieved in many of the company's categories and I-J?s export revenue benefitted from the Rand weakness. Indigo?s revenue from owned brands increased by 8% however total revenue declined following the revision of trading terms with Coty.



Entyce and Snackworks both performed well in the constrained environment and Spitz enjoyed continued strong demand for its core brands and achieved record sales in December. I-J?s profit growth for the period was tempered by unrealised losses on fuel hedges following the significant decline in oil prices. The consolidated gross profit margin and operating profit margin both improved in comparison to the same period in the prior year.



Other factors impacting on the consolidated results for the first semester, compared to the same period in the prior year, were:

* The first semester of the prior financial year included a net after tax capital gain of R122,0 million in respect of a payment of R150.0 million from Coty to Indigo Brands (Pty) Ltd. following the revision of their commercial relationship.

* The weighted average number of shares in issue during the period was 2.2% higher than in the same period last year due to the issue of new shares in terms of the Group?s various share incentive schemes, including the black staff empowerment share scheme.



The following disclosure is made in accordance with Section 3.4 (b) of the Listings Requirements of the JSE Ltd.:

* Consolidated headline earnings per share for the six months ended 31 December 2014 are expected to increase by between 8% and 11% over the comparable period in the prior year. In cents per share this will be an increase from last year?s 230.6 cents to a range between 249 and 256 cents per share;

* Consolidated earnings per share for the six months ended 31 December 2014, including capital gains and losses, are expected to decrease by between 5% and 8% over the comparable period in the prior year. In cents per share this will be a decrease from last year?s 269.6 cents to a range between 248 and 256 cents per share;



It is expected that AVI will release its results for the six months ended 31 December 2014 on or about 9 March 2015.
30-Oct-2014
(Official Notice)
The board of directors advised shareholders that Barry Smith has resigned as a non-executive director of the Company with effect from 30 October 2014. Mr Smith has been a Board Member since March 2011 and a member of the Social and Ethics Committee since August 2012.
30-Oct-2014
(Official Notice)
Shareholders are advised that the voting results for the Annual General Meeting ("AGM") of AVI held at 11h00 on Thursday, 30 October 2014, all resolutions were passed by the requisite majority of AVI shareholders present in person or represented by proxy at the AGM.
30-Sep-2014
(Official Notice)
Shareholders of AVI are advised that AVI commenced posting of its integrated annual report for the year ended 30 June 2014 on Tuesday, 30 September 2014. The integrated annual report contains no modifications to the preliminary results which were published on the Stock Exchange News Service of the JSE Ltd. on Monday, 8 September 2014, and accordingly the Company will not publish an abridged report.



Due to the ongoing postal strike, delays may be experienced in the receipt of the integrated annual report. Shareholders can contact Ms Sureya Naidoo on 011-5021321 to request an electronic version of the integrated annual report. In addition, the integrated annual report is available on the Company?s website, www.avi.co.za.



Notice is hereby given that AVI's annual general meeting will be held at 2 Harries Road, Illovo, Sandton, at 11:00 on Thursday, 30 October 2014 to transact business as stated in the notice of the annual general meeting circulated together with the integrated annual report.



The record date for Shareholders to participate in and vote at the annual general meeting is Friday, 24 October 2014. Accordingly the last day to trade to participate in and vote at the annual general meeting is Friday, 17 October 2014.

09-Sep-2014
(Media Comment)
Business Day highlighted that branded consumer products group AVI is targeting a good year for grocery and personal care sales in African countries, after improving its distribution channels in several export markets. AVI 's Entyce, Snackworks and Indigo businesses grew their global revenue by 20% to R769 million in the year ended June. CEO Simon Crutchley said AVI had strengthened its distribution for these divisions mainly East and Southern African markets, including Namibia, Botswana, Mozambique, Zambia and Angola. Mr Crutchley added that the group was looking for brand acquisition opportunities in SA and elsewhere, but with a keen eye on quality of the intellectual property, which gave brands their competitive advantage.
08-Sep-2014
(C)
Revenue increased by 11.4% to R10.3 billion (R9.2 billion). Gross profit was up 7.8% to R4.4 billion (R4.1 billion). Operating profit before capital items rose 12.2% to R1.7 billion (R1.5 billion). Net attributable profit increased by 21.2% to R1.3 billion (R1.1 billion). In addition, headline earnings per share from continuing operations grew by 12.4% to 383.6cps (341.2cps).



Dividend

A final gross ordinary dividend of 180cps has been declared.



Outlook

We expect the current constrained consumer demand environment to persist and possibly worsen given rising interest rates and a pull-back in unsecured lending. The pressure on profit margins from the weaker Rand will be ameliorated by selling price increases taken across the Group during the fourth quarter of the last financial year, however any further Rand weakness will increase margin pressure.



At I-J, catch rates were reasonable in the second semester and should these catch rates continue, the increased volumes, together with the benefit of foreign currency exchange rates already secured, will support a strong performance in the year ahead.



Entyce and Snackworks have well established capabilities to defend market share and profit margins and will be seeking to grow sales volumes where there is opportunity. Indigo is maintaining its strong body spray position and performing well in colour cosmetics. Spitz, Kurt Geiger and Green Cross will benefit from new store openings, while the Green Cross wholesale business will benefit from increased focus in the year ahead. Our international business is targeting a strong year on the back of improved distribution in several export markets.



Notwithstanding expectations of a difficult trading environment we remain confident that our unique brand portfolio can continue to deliver growth in key categories. This will be supported by ongoing improvements in manufacturing capability and procurement activity.



Accordingly the board is confident that AVI is well positioned to weather a difficult trading environment while continuing to pursue growth opportunities from the current brand portfolio and remaining vigilant for brand acquisition opportunities both domestically and regionally.
21-Jul-2014
(Official Notice)
The following additional disclosure is made in accordance with Section 3.4 (b) of the Listings Requirements of the JSE, following the trading update and statement released by AVI on 24 June 2014:

* Consolidated headline earnings per share for the continuing operations of the Group for the year ended 30 June 2014 are expected to increase by between 11% and 14% over the prior year;

* Consolidated earnings per share for the continuing operations of the Group for the year ended 30 June 2014, including capital gains and losses, are expected to increase by between 22% and 25% over the prior year;

* Consolidated headline earnings per share for the total operations of the Group for the year ended 30 June 2014 are expected to increase by between 11% and 14% over the prior year;

* Consolidated earnings per share for the total operations of the Group for the year ended 30 June 2014, including capital gains and losses, are expected to increase by between 17% and 20% over the prior year.



It is expected that AVI will release its results for the year ended 30 June 2014 on or about 8 September 2014.
24-Jun-2014
(Official Notice)
Overall sales performance has been sound with strong volume performance in several of our categories notwithstanding the pressure on consumer spending. In addition, I-J's export revenues benefitted materially from the weaker Rand particularly in the second semester of the financial year.



The weaker Rand resulted in material input cost increases which have not been fully recovered in the current trading period, particularly in the Spitz footwear business which has come off a period of high profit margins supported by an extended period of Rand stability. Price increases were implemented across all of our businesses in the second semester to ameliorate the pressure on gross profit margins going into the next financial year. Selling and administrative expenses have been well controlled and together with volume leverage and increased profitability in I-J, have resulted in the consolidated operating profit margin being maintained in line with that in the prior financial year.



Other factors that will impact on the consolidated results for the year to June 2014 are:

* The weighted average number of shares in issue during the period is expected to be 2.2% higher than in the same period last year due to the issue of new shares in terms of the Group?s various share incentive schemes, including the AVI Black Staff Empowerment Share scheme.

* As announced on 7 November 2013, Indigo Brands (Pty) Ltd. received a once-off pre-tax payment of R150 million from Coty following the revision of their commercial relationship. The net after tax gain of R122 million is included in the results as a capital item.



Trading statement

AVI will release an updated trading statement in July 2014 confirming ranges for the increases in headline and attributable earnings, once the Group has reasonable certainty in this regard. It is expected that AVI will release its results for the year ended 30 June 2014 on or about 8 September 2014.
19-Jun-2014
(Official Notice)
The board of Directors of AVI announced the appointment of Mr Richard Inskip to the board as an independent non-executive director. The appointment is made with effect from 18 June 2014.
10-Mar-2014
(C)
Revenue increased by 10% to R5.4 billion (R4.9 billion). Gross profit was up 7% to R2.4 billion (R2.2 billion). Net attributable profit rose by 23% to R839.7 million (R683.2 million). In addition, headline earnings per share from continuing operations grew by 10% to 230.6cps (210.2cps).



Dividend

A gross interim ordinary dividend of 120cps has been declared.



Outlook

AVI expects the current constrained consumer demand environment to persist and possibly worsen if interest rates continue to rise and the rand's weakness is sustained. The cost pressure attributable to the weaker rand will result in continued margin pressure that, in turn, is likely to result in selling price increases in many categories in the second semester.



Notwithstanding expectations of a difficult trading environment AVI remains confident that its unique brand portfolio can continue to deliver growth in key categories. This will be supported by on-going improvements in manufacturing capability and procurement activity.



At I-J, wet vessel catch rates improved in the latter part of the period under review and should these catch rates continue, the increased volumes, together with the benefit of foreign currency exchange rates secured for the second semester, will support a strong second half and full-year performance.



Regarding the other business units, Entyce and Snackworks have well established capabilities to defend market share and profit margins and will be seeking to grow sales volumes where there is opportunity. Indigo is regaining momentum in aerosol volumes and performing well in colour cosmetics. The Spitz and Kurt Geiger businesses will benefit from new store openings in the second half that should ameliorate some of their gross margin and demand pressures. Green Cross will commence the roll-out of a new design retail store and is working hard to build a stronger and focused platform in its wholesale business. AVI's international business is targeting a strong second half on the back of improved distribution in several export markets.



The board is confident that AVI is well positioned to weather a difficult trading environment while continuing to pursue growth opportunities from the current brand portfolio and remaining vigilant for brand acquisition opportunities both domestically and regionally.
23-Jan-2014
(Official Notice)
Overall sales performance was sound in a tough trading environment with strong volume growth in biscuits and snacks, both in South Africa and regionally. The consolidated gross profit margin declined slightly due mainly to gross margin pressure in the footwear businesses however the consolidated operating profit margin benefited from volume leverage in some categories and is in line with that for the same period in the prior year. Other factors impacting on the consolidated results for the first semester were:

* As announced on 7 November 2013, Indigo Brands (Pty) Ltd. received a once-off pre-tax payment of R150 million from Coty following the revision of their commercial relationship. The net after tax gain of R122 million is included in the results for the semester as a capital item.

* The weighted average number of shares in issue during the period was 2,3% higher than in the same period last year due to the issue of new shares in terms of the Group?s various share incentive schemes.



The following additional disclosure is made in accordance with Section 3.4 (b) of the Listings Requirements of the JSE, following the trading statement released by AVI on 7 November 2013:

* Consolidated headline earnings per share for the continuing operations of the Group for the six months ended 31 December 2013 are expected to increase by between 8% and 11% over the comparable period in the prior year;

* Consolidated earnings per share for the continuing operations of the Group for the six months ended 31 December 2013, including capital gains and losses, are expected to increase by between 27% and 29% over the comparable period in the prior year;

* Consolidated headline earnings per share for the total operations of the Group for the six months ended 31 December 2013 are expected to increase by between 8% and 11% over the comparable period in the prior year;

* Consolidated earnings per share for the total operations of the Group for the six months ended 31 December 2013, including capital gains and losses, are expected to increase by between 19% and 21% over the comparable period in the prior year.

It is expected that AVI will release its results for the six months ended 31 December 2013 on or about 10 March 2014.
07-Nov-2013
(Official Notice)
Shareholders are referred to the announcement released today concerning the revision of the commercial relationship between Indigo Brands (Pty) Ltd. ("Indigo") and the Coty Group ("Coty"). As a consequence of the revised relationship Indigo will receive a one-off pre-tax payment of R150 million in November 2013 which will be included in AVI's consolidated earnings for the six months ending 31 December 2013 as a capital item. The following statement is made in accordance with Section 3.4 (b) of the Listings Requirements of the JSE Ltd.:

* Consolidated earnings per share for the continuing operations of the Group for the six months ending 31 December 2013, including capital gains and losses, are expected to increase by more than 20% compared to the comparative period in the prior year; and

* Consolidated earnings per share for the total operations of the Group for the six months ended 31 December 2013, including capital gains and losses, are expected to increase by more than 20% compared to the comparative period in the prior year.



AVI will release an updated trading statement in January 2014 confirming ranges for the increases in headline and attributable earnings, once the Group has reasonable certainty in this regard. It is expected that AVI will release its results for the six months ending 31 December 2013 on 10 March 2014.
07-Nov-2013
(Official Notice)
30-Oct-2013
(Official Notice)
Notice is hereby given as required in terms of Section 45(5) of the Companies Act that pursuant to the authority granted to the board of AVI by its shareholders at the annual general meeting of shareholders held on 30 October 2013, the board of AVI has adopted a resolution to continue to provide direct or indirect financial assistance (including by way of loans and guarantees)to related or inter-related entities in the ordinary course of business, as contemplated in section 45 (2) of the Companies Act. AVI will be delivering a copy of this announcement to shareholders recorded in the register on 25 October 2013, as written notice of that resolution, in compliance with section 45(5) of the Companies Act.
30-Oct-2013
(Official Notice)
At the annual general meeting of the shareholders of AVI held at 11h00 on Wednesday, 30 October 2013 ("the AGM"), all the ordinary and special resolutions tabled at the AGM were approved by the requisite majorities.



The special resolutions will be registered with the Companies and Intellectual Property Commission in due course.
30-Sep-2013
(Official Notice)
Shareholders of AVI were advised that AVI has commenced posting of its integrated annual report for the year ended 30 June 2013 on Monday, 30 September 2013. The integrated annual report contains no modifications to the preliminary results which were published on the SENS on Monday, 9 September 2013, and accordingly the company will not publish an abridged report.



Notice of annual general meeting

Notice is hereby given that AVI's annual general meeting will be held at 2 Harries Road, Illovo, Sandton, at 11:00 on Wednesday, 30 October 2013 to transact business as stated in the notice of the annual general meeting circulated together with the integrated annual report.



The record date for shareholders to participate in and vote at the annual general meeting is Friday, 25 October 2013. Accordingly the last day to trade to participate in and vote at the annual general meeting is Friday, 18 October 2013.
11-Sep-2013
(Official Notice)
Shareholders of AVI ("Shareholders") were referred to the announcement published in the press on Tuesday, 10 September 2013 ("the Press Release") in relation to the preliminary results for the year ended 30 June 2013 and were advised of the following:

*the information contained in the Press Release is a summary of the audited preliminary results for the year ended 30 June 2013, released on the Stock Exchange News Service of the JSE Ltd. on Monday, 9 September 2013 ("the SENS Release") and that any investment decisions by investors and/or Shareholders should be based on consideration of the full announcement published on SENS;

*the Press Release is the responsibility of the board of directors of AVI; and

*the SENS release is available on the company's website being www.avi.co.za and is furthermore available for inspection at the company's registered office, 2 Harries Road, Illovo, Johannesburg.
10-Sep-2013
(Official Notice)
The board of directors of AVI announced the appointment of Michael Koursaris to the board as an executive director. The appointment is made with effect from 9 September 2013.
09-Sep-2013
(C)
Revenue increased by 11.2% to R9.2 billion (R8.3 billion). Gross profit was up 9.2% to R4.1 billion (R3.8 billion). Operating profit before capital items rose 11.2% to R1.5 billion (R1.4 billion). Net attributable profit increased by 11.9% to R1.1 billion (R970.5 million). In addition, headline earnings per share from continuing operations grew by 6.6% to 341.2cps (320.0cps).



Dividend

A final gross ordinary dividend of 170cps has been declared.



Outlook

AVI expects the current constrained consumer demand environment and heightened competition for market share to persist in the new financial year. Together with cost pressure attributable to the weaker rand, rising energy costs and sustained high prices for some of raw material requirements, this will result in margin pressure in many of categories. Notwithstanding expectations of a difficult trading environment AVI remains optimistic that its unique brand portfolio will continue to deliver growth in key categories. This will be supplemented by a detailed review of procurement activity and ongoing capital investment to improve quality, capacity and efficiency.



At business unit level, Entyce and Snackworks have well established capabilities to defend market share and profit margins and will be seeking to grow sales volumes where there is opportunity. I-J will benefit from the weaker Rand, increased sales volumes and more efficient processing at Woodstock. Indigo is working hard to build momentum in aerosol volumes and will benefit from a number of meaningful new product initiatives. The Spitz and Kurt Geiger businesses continue to expand the footprint of their premium footwear and apparel brands while investment in Green Cross's growth opportunities will gather momentum. In addition we have built a strong presence in selected African markets and will continue growing our brands in these and other targeted countries. The board is confident that AVI is well positioned to continue pursuing growth from the current brand portfolio while remaining vigilant for brand acquisition opportunities both domestically and regionally.
26-Jul-2013
(Official Notice)
11-Mar-2013
(C)
Revenue increased by 11% to R4.9 billion (R4.4 billion). Gross profit rose 9% to R2.2 billion (R2.1 billion). Operating profit before capital items was up 8% to R921.3 million (R854 million). Net attributable profit improved by 15% to R683.2 million (R595.2 million). In addition, headline earnings per share from continuing operations grew 8% to 210.2cps (194.2cps).



Dividend

A gross interim ordinary dividend of 90cps has been declared.



Outlook

AVI anticipates that the current constrained consumer demand environment will persist and result in increased levels of competition in the businesses categories. Together with cost pressure attributable to the weaker rand, rising energy costs and sustained high prices for some of raw material requirements, this will result in margin pressure in the second half of the year.



With most of the raw materials and foreign exchange required for the second half secured in terms of normal hedging practices, the business units will focus on managing the balance between selling prices, volumes and profit margins to achieve the best long term return from our brands.



Notwithstanding expectations of a difficult trading environment AVI remains optimistic that it can continue to deliver growth in key categories using our strong brand portfolio and improving manufacturing base. Capital expenditure levels remain high and the benefits of the various projects will be realised over the medium term. I-J's catch rates improved in the latter part of the period under review and should these catch rates be sustained, the increased volumes, together with the benefit of the weaker rand on export sales should support a materially improved second half result. In addition AVI expects the business in the rest of Africa to continue growing strongly.



The board is confident that AVI is well positioned to continue pursuing growth from the current brand portfolio while remaining vigilant for brand acquisition opportunities both domestically and regionally.
15-Jan-2013
(Official Notice)
04-Dec-2012
(Official Notice)
Mr Kim Macilwaine has resigned as a non-executive director of the company with immediate effect to enable him to fulfil his other extensive business commitments.
09-Nov-2012
(Official Notice)
Notice is hereby given as required in terms of Section 45(5) of the Companies Act that pursuant to the authority granted to the board of AVI by its shareholders at the annual general meeting of shareholders held on 2 November 2012, the board of AVI has adopted a resolution to continue to provide direct or indirect financial assistance (including by way of loans and guarantees)to related or inter-related entities in the ordinary course of business, as contemplated in section 45 (2) of the Companies Act.



AVI will be delivering a copy of this announcement to all shareholders recorded in the register on 26 October 2012, as written notice of that resolution, in compliance with section 45(5) of the Companies Act.
02-Nov-2012
(Official Notice)
At the annual general meeting of the shareholders of AVI held at 11h00 on Friday, 2 November 2012 (?the AGM?), all the ordinary and special resolutions tabled at the AGM were approved by the requisite majorities.



The special resolutions will be registered with the Companies and Intellectual Property Commission in due course. As communicated in the preliminary results announcement for the year ended 30 June 2012 published on 10 September 2012, Mr Angus Band resigned as a non-executive director with effect from 2 November 2012.

02-Nov-2012
(Official Notice)
At the annual general meeting of AVI held this morning, Gavin Tipper, commented in relation to trading conditions that:



Group revenue for the quarter ended September 2012, for continuing operations, was 7,1% higher than the same period in the prior year. The quarter was characterised by constrained demand in some categories and increasing competition for consumers? disposable income.



I-J had a difficult first quarter with several of the fishing vessels undergoing cycle maintenance, lower foreign exchange gains, increased fuel costs and lower sales volumes concomitant with the lower catch volume for the quarter. An improvement is expected over the remainder of the year as volumes increase and the weaker Rand benefits export sales, particularly in the second half of the year.



While trading conditions are expected to remain challenging, due to constrained consumer demand and tough price competition, October trading has been positive overall. Results for the first half of the 2013 financial year are dependent on achieving targeted volumes over the festive season.



This information has not been reviewed and reported on by AVI's auditors.
29-Oct-2012
(Media Comment)
According to Business Report, Ciro owned by AVI, has launched a broadened range of sustainable coffees and has acquired a new Fairtrade accreditation, amid increasing consumer demand for good quality coffee in South Africa. Ciro sources its coffee from African countries such as Zambia and Uganda and also from central and South America. Ciro has a barista training course and participates in international competition to promote coffee preparing skills. Ciro's training research and development manager, Lani Snyman said the company was involved in the fairtrade coffee and the organic coffee sustainable schemes. Russ Sidelsky, the marketing executive at Ciro added that his department experienced a 14 percent increase in sales volume in the past financial year reflecting increased coffee demand.
10-Sep-2012
(C)
04-Sep-2012
(Official Notice)
Further to the announcement on the abovementioned transaction on 31 May 2012, shareholders are advised that all outstanding conditions precedent have been fulfilled and that accordingly the effective date for this transaction will be 1 October 2012. RJC will be disclosed as a discontinued operation in AVI's results for the year ended 30 June 2012 and comparatives for the year ended 30 June 2011 will be restated accordingly. Further details in this regard will be communicated at the group?s year-end results presentation to be held on 10 September 2012.
03-Sep-2012
(Media Comment)
According to Business Day, AVI will this week begin business in its first Carvela store in Sandton, extending its collection from shoes to clothing, fragrances, bags and sunglasses. Spitz MD, Robert Lunt, said that if the store was successful, the company would in the medium term open more stores across the country. He added that the clothing will be targeted at the prime end of the market. The new store supplies both men and women's clothing while the denim department permits customers to customise their jeans. Jiten Bechoo, Avior Research analyst, said that the strategy was reasonable and has great potential for growth.
27-Jul-2012
(Official Notice)
Further to the announcement on the abovementioned transaction released on SENS on 17 May 2012, shareholders are advised that all outstanding conditions precedent have been fulfilled and that accordingly the closing date for this transaction is 27 July 2012. AVI will consolidate Green Cross financial results with effect from 1 July 2012. Further details in this regard will be communicated at the group's year-end results presentation to be held on 10 September 2012.
21-Jun-2012
(Official Notice)
Based on the group's aggregated trading performance for the eleven months to May 2012 and the latest estimate for June 2012 we are required to issue the following statement in accordance with Section 3.4 (b) of the Listings Requirements of the JSE Ltd.:

*Consolidated headline earnings per share for the continuing operations of the group for the year ending 30 June 2012 are expected to increase by between 24% and 31% over the prior year;

*Consolidated earnings per share for the continuing operations of the group for the year ending 30 June 2012, including capital gains and losses on the disposal of assets, are expected to increase by between 24% and 31% over the prior year;

*Consolidated headline earnings per share for the total operations of the group for the year ending 30 June 2012 are expected to increase by between 24% and 31% over the prior year;

*Consolidated earnings per share for the total operations of the group for the year ending 30 June 2012, including capital gains and losses on the disposal of assets, are expected to increase by between 34% and 41% over the prior year.



Comparative numbers for continuing operations for the year ended 30 June 2011 will be restated to exclude the results of the Real Juice Co Holdings (Pty) Ltd. ("RJC") in line with the disclosure adopted for the year ending 30 June 2012 and the intended disposal of RJC to Clover SA (Pty) Ltd. ("Clover"), which is subject to approval of the South African Competition Authorities. This will impact the previously disclosed earnings per share from continuing operations as follows: Impact of RJC restatement on earning per shares for continuing operations
15-Jun-2012
(Official Notice)
Shareholders in AVI are advised that Mr Angus Band, the independent non- executive chairman of the board, has indicated that he will retire from his position at the company's next annual general meeting which is scheduled for Friday, 2nd November 2012. In order to ensure an orderly transition it has been decided by the board that, with effect from 1 July 2012, Mr Gavin Tipper, currently an independent non- executive director, will be appointed as the chairman. Mr Band will remain on the board until the 2nd November 2012.
31-May-2012
(Official Notice)
Shareholders are advised that AVI has entered into an agreement in terms of which Clover, a subsidiary of Clover Industries Ltd., will acquire 100% of the equity in and shareholders' loans against RJC for an enterprise consideration of R60 million ("the transaction"). The Transaction is not a categorised transaction in terms of the Listings Requirements of the JSE Ltd.



The only condition precedent to which the Transaction is subject is the approval of the South African Competition Authorities in terms of the Competition Act no. 89 of 1998, as amended. The Transaction will become effective on the last day of the month following the receipt of such approval. Further details relating to the Transaction will be communicated at the Group's year-end results presentation to be held during September 2012. RJC will be disclosed as a discontinued operation in AVI's results for the year ended 30 June 2012 and comparatives for the year ended 30 June 2011 will be restated accordingly.
17-May-2012
(Official Notice)
Shareholders are advised that AVI has entered into an agreement in terms of which it will acquire 100% of the issued share capital and shareholders' loans of Green Cross ("the transaction" or "the acquisition"). The transaction is not a categorised transaction in terms of the Listings Requirements of the JSE Ltd.



Information on Green Cross

Green Cross was founded in 1975 and is a vertically integrated manufacturer, importer and retailer of ladies, men's and children's footwear in South Africa and surrounding geographies.



Particulars of transaction



Purchase consideration

The purchase consideration payable by AVI will be an initial amount of R382.5 million plus a contingent earn-out payment up to a maximum amount of R35 million, payable in March 2013 subject to certain profit hurdles being achieved in Green Cross' financial year ending 28 February 2013. AVI will discharge the initial amount of the purchase consideration in a single cash payment to the vendors. AVI will fund the entire purchase consideration from existing cash resources.



Effective date

The transaction's effective date is 1 March 2012.



Conditions precedent

The transaction is subject to the fulfilment of certain conditions precedent including the receipt by the parties of the unconditional approval of the South African Competition Authorities in terms of the Competition Act no. 89 of 1998, as amended, and the receipt by the parties of the written consent of certain landlords in respect of the transfer of certain leases over premises utilised by Green Cross in its retail operations.



Conclusion

AVI's board of directors believes that the transaction is strongly aligned to the group's strategy of growing great brands and that the addition of this leading brand with a solid track record and exciting future growth opportunities will allow AVI to further capitalise on its expertise in the premium branded footwear category. Further details relating to the transaction will be communicated at the group's year-end results presentation to be held during September 2012.
02-Apr-2012
(Official Notice)
Notice is hereby given that a gross interim dividend No 75 of 83 cents per share for the six months ended 31 December 2011 has been declared payable to shareholders of ordinary shares. The total STC credits utilised as part of this declaration amount to R12 925 764.00. The number of ordinary shares in issue at the date of this declaration is 342 144 990 and consequently the STC credits utilised per share amount to 3.78 cents per share. The dividend will be subject to a local dividend tax rate of 15% which will result in a net dividend to those shareholders who are not exempt from paying dividend tax of 71.12 cents per share. The salient dates relating to the payment of the dividend are as follows:

*Last day to trade cum dividend on the JSE -- Thursday 19 April 2012

*First trading day ex dividend on the JSE -- Friday 20 April 2012

*Record date -- Thursday 26 April 2012

*Payment date -- Monday 30 April 2012



In accordance with the requirements of Strate Ltd., no share certificates may be dematerialised or rematerialised between Friday 20 April 2012 and Thursday 26 April 2012, both days inclusive. Dividends in respect of certificated shareholders will be transferred electronically to shareholders' bank accounts on payment date. In the absence of specific mandates, dividend cheques will be posted to shareholders. Shareholders who hold dematerialised shares will have their accounts at their Central Securities Depository Participant ("CSDP") or broker credited on Monday, 30 April 2012.
12-Mar-2012
(C)
31-Jan-2012
(Official Notice)
Subsequent to the release of its trading update on 13 December 2011 AVI has finalised its results for the six months ended 31 December 2011 and the final earnings for this period are set out below.

Consolidated earnings per share for six months ended 31 December

2011 - 2010:

* Headline earnings per share for continuing operations : 194.4 - 147.8

* Earnings per share for continuing operations : 195.1 - 143.5

* Headline earnings per share for total operations : 194.4 - 149.5

* Earnings per share for total operations : 200.8 - 145.3



Comparative numbers for continuing operations for the six months ended 31 December 2010 have been restated to exclude Denny's results in line with the disclosure adopted for the year ended 30 June 2011 and subsequent disposal of Denny with effect from 1 July 2011. It is expected that AVI will release its interim results for the six months ended 31 December 2011 on or about 12 March 2012.
02-Nov-2011
(Media Comment)
Business Day reported that changes in the retail group AVI's fashion business are helping to fuel revenue growth while other business segments remain strong. AVI chairman commented that the jump in revenue was largely due to improved sales volumes in most key categories, selling price increases in food and beverage categories in line with higher in put costs and favourable exchange rates on I-J's export sales.
01-Nov-2011
(Official Notice)
At the annual general meeting of AVI shareholders held at 11h00 on Tuesday, 1 November 2011 ("the AGM"), all of the resolutions tabled at the AGM were approved by the requisite majorities. The special resolutions will be registered with the Companies and Intellectual Property Commission in due course.
01-Nov-2011
(Official Notice)
At the AGM of AVI held this morning, Angus Band, the Chairman of AVI, commented in relation to trading conditions that: "Group revenue for the quarter ended September 2011, for continuing operations, was 10.9% higher than the same period in the prior year largely due to improved sales volumes in most key categories, selling price increases in the food and beverage categories in line with higher input costs, and the benefit of favourable exchange rates on I-J's export sales. The consolidated gross profit margin for the quarter was similar to that for the first quarter of the prior financial year which, together with higher sales volumes yielded strong growth in operating profit and operating profit margin for the quarter. I-J in particular showed material improvement with the benefit of favourable exchange rate movements and our Fashion businesses continue to grow operating profit strongly. The biscuit business has shown a pleasing return to a stable and efficient operating performance which supported volume and profit growth for the quarter. Trading conditions are expected to be challenging with constrained consumer demand and tough price competition in many of our categories. Nevertheless we are encouraged by the strong start to the 2012 financial year and believe that the company is well positioned to deliver sound earnings growth. Results for the first half of the 2012 financial year are dependent on the continuity of the current level of consumer demand and in particular achieving targeted volumes over the festive season.
29-Sep-2011
(Official Notice)
Shareholders are advised that AVI commenced posting of its annual report for the year ended 30 June 2011 on Thursday, 29 September 2011 to shareholders recorded in the share register on Friday, 23 September 2011. The annual report contains no modifications to the audited results which were published on the SENS of the JSE Ltd on Monday, 5 September 2011, and accordingly, the company will not publish an abridged report. The annual financial statements were audited by KPMG Inc. and their report is available for inspection at the address of the company's registered office. Notice is hereby given that AVI's annual general meeting will be held at 2 Harries Road, Illovo, Sandton, on Tuesday, 1 November 2011 at 11h00 to transact business as stated in the notice of the annual general meeting circulated together with the annual report.
05-Sep-2011
(C)
Revenue increased by 5.7% to R7.7 billion (R7.3 billion). Operating profit before capital items was up by 25.4% to R1.1 billion (R895.1 million). Net attributable profit surged by 49% to R697.8 million (R468.2 million). In addition, headline earnings from continued operations jumped by 31.1% to 248.2cps (189.4cps).



Dividend

A final ordinary dividend of 75cps has been declared.



Outlook

Recent local and international data indicates that economic growth in South Africa over the next few years is likely to be slower than expected. In line with this, consumer demand is likely to remain restrained in the year ahead and AVI will need to earn future profit growth by competing effectively in the marketplace and continuing to reduce our cost of doing business. There is a strong portfolio of initiatives planned for the next financial year, covering local and regional market opportunities, factory improvement and on- going development of shared and support services.



In addition, the group has a material level of forward exchange cover in place to protect the cost of imports and commodity costs have started to soften, both of which will allow more leeway to manage the balance between price, volume and profitability with the flexibility that constrained trading environments require. I-J has the advantage of increased quota and will benefit materially if the rand weakens against the euro.



The board is confident, despite prevailing market conditions, that AVI will continue to deliver profit growth from the current brand portfolio while remaining vigilant for brand acquisition opportunities both regionally and domestically.
13-Jul-2011
(Official Notice)
Shareholders were advised that AVI has entered into an agreement in terms of which it will sell 100% of the issued share capital of and AVI's shareholder claims against Denny to Blue Falcon 134 Trading (Pty) Ltd ("Blue Falcon") ("the transaction"). Blue Falcon's shareholders include RMB Ventures Six (Pty) Ltd, an indirect subsidiary of FirstRand Ltd, which holds a 49.9% interest therein, and Denny's executive management team. Denny is the leading producer of fresh, canned and value added mushroom products in South Africa, with a market share exceeding 50%. While Denny is a sound business with the leading national brand in the fresh and canned mushroom categories, the importance of branding in the "fresh to market" produce segment in general and in the fresh mushroom segment in particular has declined over the past several years and this category is no longer strategically aligned to AVI's growth ambitions. The effective date of the transaction is 1st July 2011. Transaction details will be communicated at the group's year-end presentation to be held on the 5th September 2011. Denny will be disclosed as a discontinued operation in AVI's results for the year ended 30 June 2011 and comparatives for the year ended 30 June 2010 will be restated accordingly.



Pro forma financial effects

The disposal will impact the previously disclosed earnings per share from continuing operations as follows:

Year ended 30 June 2010 previously - revised:

* Headline earnings per ordinary share: 198.7 189.4

* Earnings per ordinary share: 197.0 187.5.



The expected percentage increases in earnings per share from continuing operations for the year ended 30 June 2011 remain the same as communicated in AVI's trading update on 22 June 2011.
04-Jul-2011
(Official Notice)
Shareholders were advised that AVI has repurchased 8 984 469 of its shares up to the start of AVI's closed period on 30 June 2011, in accordance with the general authority granted by shareholders at the annual general meeting held on 20 October 2010 ("the repurchase"). This authority allows for the repurchase of 34 359 572 shares, being 10% of AVI's total shares in issue at the time of the annual general meeting. The shares repurchased are to be delisted. The extent of the authority outstanding is 25 375 103 shares, equivalent to 7.46% of the current total shares in issue and is valid until the next annual general meeting, scheduled for 1 November 2011. No shares will be purchased during AVI's closed period which ends on 5 September 2011.
22-Jun-2011
(Official Notice)
04-May-2011
(Official Notice)
Ms Sureya Naidoo has been appointed as AVI's Company Secretary with effect from 1 May 2011.
15-Mar-2011
(Official Notice)
The board of directors of AVI announced the appointment of Mrs Neo Dongwana and Mr Barry Smith to the board as independent non-executive directors. Their appointment is with effect from 15 March 2011.
08-Mar-2011
(Official Notice)
Rob Katzen has resigned as an executive director of the company and from his appointment as the managing director of Ciro Beverage Solutions (Pty) Ltd ("Ciro"). Rob's resignation from the company was accepted by the board on 4 March 2011. His resignation from Ciro is with effect from 31 March 2011.
07-Mar-2011
(C)
Revenue from continuing operations rose by 7% from R4.05 billion to R4.32 billion for the six months. This increase is largely attributable to higher sales volumes, particularly in the creamer, coffee, personal care and footwear categories, as well as higher selling prices in the biscuit category. Operating profit improved by 30%, from R534.7 million to R695.2 million. Profit attributable to the owners of AVI for the period increased to R438.9 million (2009: R327.7 million). Headline earnings per share from continuing operations increased by 36% to 152.3cps (2009: 112.3cps)



Dividend

An interim dividend of 50 cents per share has been declared in line with AVI's interim dividend policy of a three times cover on diluted headline earnings per share from continuing operations.



Outlook

It is still unclear whether South Africa's economy is set to meaningfully recover in the second half of the financial year and our expectations for increasing consumer expenditure, despite lower interest rates, are moderate. Nonetheless demand for our brands is improving and we remain confident that we can compete effectively while continuing to seek the optimal balance between volumes and profit margins. However, if current commodity price levels are sustained, the second half is unlikely to benefit as materially from lower input costs as the first half. While I-J's results in the second half should benefit from the increase in hake quota, they will remain depressed should weak prices for seafood products and the strong rand continue to prevail. Taking all of these factors into account, it is unlikely that the rate of year-on-year growth achieved in the six months to December will be repeated in the second half of this financial year. AVI continue to focus on maximising the medium-term profit growth opportunities within our brand portfolios and several major projects that improve efficiency and capacity will be commissioned in the second half of this year. The board is confident that AVI will continue to deliver profit growth from the current brand portfolio while remaining vigilant for brand acquisition opportunities both regionally and domestically. The above outlook statements have not been reviewed or reported on by AVI's auditors.
15 Dec 2010 09:30:56
(Official Notice)
AVI's results for the five months to November 2010 have benefited from improved gross profit margins and higher sales volumes. Based on our latest estimate of results for December 2010, we are reasonably certain that earnings for the six months to December 2010 will be at least 20% higher than for the same period last year.

* Consolidated headline earnings per share for the continuing operations of the group for the six months ending 31 December 2010 are expected to increase by between 30% and 40% over the comparable period in the prior year;

* Consolidated earnings per share for the continuing operations of the group for the six months ending 31 December 2010, including capital gains and losses on the disposal of assets, are expected to increase by between 30% and 40% over the comparable period in the prior year.



Discontinued operations - Alpesca

Efforts to disinvest from the Argentinean hake and shrimp operations conducted by Alpesca s.a.("Alpesca"), a wholly owned subsidiary of Irvin and Johnson Holding Company (Pty) Ltd ("I - J") are ongoing and this operation will continue to be disclosed as a discontinued operation in AVI's interim results. The shrimp operations have had a good first half which has partially offset operating losses in the hake operation resulting from lower selling prices into export markets. Alpesca is expected to make an operating loss similar to that incurred in the first half of the previous year. It is expected that AVI will release its interim results for the six months ending 31 December 2010 on 7 March 2011. The information above has not been reviewed and reported on by the group's auditors.
03 Dec 2010 11:38:43
(Official Notice)
The board of directors of AVI announced the appointment of Mr Abe Thebyane to the Board as an independent non-executive director. The appointment is made with effect from 3 December 2010.
03 Dec 2010 11:33:17
(Official Notice)
Mr M H Buthelezi has resigned as a non-executive director of the company with immediate effect.
29 Oct 2010 07:51:37
(Official Notice)
Further to the announcement released on SENS on 28 September 2010 and the passing of the relevant resolutions at the AGM held on Wednesday, 20 October 2010, the board of directors of AVI is pleased to announce that all conditions precedent have been met and accordingly a special payment of 75 cents per share by way of a capital reduction out of share premium will proceed as announced.



The salient dates are set out below

Last day to trade on the JSE in order to receive payment -- Friday, 5 November 2010

First trading day ex-payment on the JSE -- Monday, 8 November 2010

Record date -- Friday, 12 November 2010

Payment date -- Monday, 15 November 2010



The record date is the date on which at close of business shareholders must be recorded as such in the register to receive the payment.



AVI shares may not be dematerialised or rematerialised between Monday, 8 November 2010 and Friday, 12 November 2010, both days inclusive.
20 Oct 2010 11:33:17
(Official Notice)
At the annual general meeting of AVI shareholders held at 11h00 on Wednesday, 20 October 2010, all of the resolutions tabled at the meeting were approved by the requisite majorities. The special resolution granting general authority to repurchase AVI ordinary shares will be registered with the CIPRO in due course.
20 Oct 2010 11:14:42
(Official Notice)
Group revenue for the quarter ended September 2010 was 7.7% higher than the same period in the prior year largely as a result of improved sales volumes in all key categories. Despite a lower contribution from I-J, group operating profit has benefited from the higher sales volumes as well as improved gross profit margins and consequently the consolidated operating performance for the quarter is materially ahead of the corresponding period last year. I-J's performance remains constrained by low export selling prices, including the adverse impact of the strong rand, however fishing conditions and operating performance have been good and prices have improved slightly in some of our export markets. Trading conditions are expected to remain challenging with variable consumer demand and tough price competition. The Group's results for the first half of the financial year are dependent on the continuity of consumer demand and in particular achieving targeted volumes over the festive season. This information has not been reviewed or reported on by AVI's auditors.

29 Sep 2010 10:07:33
(Official Notice)
Shareholders are advised that AVI commenced posting of its annual report for the year ended 30 June 2010 on Tuesday, 28 September 2010. The annual report contains no modifications to the audited results which were published on SENS on Monday, 6 September 2010, and accordingly the company will not publish an abridged report. The annual financial statements were audited by KPMG Inc. and their report is available for inspection at the address of the company's registered office. Notice was given that AVI's annual general meeting will be held at 2 Harries Road, Illovo, Sandton, on Wednesday, 20 October 2010 at 11h00 to transact business as stated in the notice of the annual general meeting circulated together with the annual report.
28 Sep 2010 13:59:42
(Official Notice)
07 Sep 2010 09:35:29
(Media Comment)
AVI's June 2010 full-year results were good, with all divisions except I-J growing, according to "The Bottom Line Column" in Business Day. The company's share price is also buoyant and it is obvious that AVI did the right thing by rejecting Tiger Brands Ltd's ("Tiger Brands") takeover bid. However, the column wondered if Tiger Brands or another company might want to make another bid for AVI, since the business is large enough to make a difference but not so large as to make an acquisition a big risk.
06 Sep 2010 07:46:55
(C)
22 Jul 2010 16:29:21
(Official Notice)
Group revenue for the year to June 2010 was 2.3% higher than last year with growth in most business units offset by a significant decline in I-J's revenue due to a combination of lower export selling prices, a stronger rand and lower volumes following the reduction in the hake total allowable catch. Demand for the group's other food and beverage brands was satisfactory in the context of constrained consumer spending and they all achieved revenue growth as a result of either higher volumes or the annualising impact of price increases taken in the prior year. AVI's personal care and footwear brands performed strongly, benefiting from price increases implemented in the second half of the last financial year as well as solid volume growth. All business units, aside from I-J, delivered robust improvements in operating profit. This strong performance has more than off-set the significant decline in I-J's operating profit and both consolidated gross profit and consolidated operating profit are higher than last year. The anticipated improvement in Snackwork's profit margins in the second half of the year, due to lower commodity costs and progress with factory efficiencies, has been particularly pleasing.



Consolidated headline earnings per share for the continuing operations of the group for the year ended 30 June 2010 are expected to increase by between 11% and 16% over the comparable period in the prior year, consolidated earnings per share for the continuing operations of the group for the year ended 30 June 2010, including net capital gains and losses on the disposal of assets, are expected to reflect an increase of between 6% and 11% over the comparable period in the prior year.



It is expected that AVI will release its final results for the year ended June 2010 on 6 September 2010.

16 Jul 2010 10:59:53
(Official Notice)
The board of directors of AVI announce the appointment of Ms Andisiwe Kawa to the board as an independent non-executive director. The appointment is made with effect from 15 July 2010.
06 Apr 2010 08:38:59
(Media Comment)
According to Fin Week, food producer AVI plans to entrench its foothold in South Africa's sweet biscuit industry amid a growing demand in the lower end of the market. AVI, parent company of Bakers, has been working on plans to increase its biscuit production by half by extending its baking facilities by a further 15 000 ton, but has postponed a final decision until June. If that happens, AVI will have substantially raised its biscuit contribution (currently around 25%) to the group's revenue if demand is sustained.
25 Mar 2010 09:35:56
(Official Notice)
Mrs N T Moholi has resigned as a non-executive director with immediate effect owing to work commitments.
08 Mar 2010 08:50:47
(C)
Revenue for the interim period ended 31 December 2009 remained constant at R4 billion. Operating profit rose to R534.7 million (2008: R534.6 million). Profit attributable to the owners of AVI for the period lowered to R327.7 million (2008: R361.9 million). Headline earnings per share from continuing operations for the period increased to 112.3 cps (2008: 103.2 cps).



Dividends

An interim dividend of 39 cents per share has been declared in line with AVI's interim dividend policy of a three times cover on diluted headline earnings per share from continuing operations.



Outlook

Notwithstanding the general view that the South African economy has started to recover from recession, we believe that tough trading conditions will prevail through the second half of the financial year with consumers likely to remain cautious with their spending for some time. I-J's results for the second half of the year will be much lower than last year should weak prices for seafood products and the strong rand continue to prevail. In line with the ongoing pressure on I-J's margins a number of new cost saving initiatives are being implemented but will not have much impact on the current financial year. The benefits from the remedial actions implemented in Snackworks over the past year will, if demand is sustained, result in an improved performance from this business unit in the second half of the year. The board remains confident of AVI's ability to compete effectively in these tougher trading conditions. The ongoing focus on profit enhancing opportunities across our market-leading brand portfolio, as well as remaining vigilant for strategic acquisition opportunities, underpin AVI's medium term growth objective.
01 Mar 2010 14:05:08
(Official Notice)
The board of directors of AVI announce the appointment of Mr Mike Bosman to the board as an independent non-executive director. The appointment is made with effect from 1 March 2010.
18 Jan 2010 17:00:24
(Official Notice)
Consolidated headline earnings per share for the continuing operations of the group for the six months ending 31 December 2009 are expected to increase by between 5% and 10% over the comparable period in the prior year; Consolidated earnings per share for the continuing operations of the group for the six months ending 31 December 2009, including net capital gains on the disposal of assets, are expected to reflect a reduction of between 5% and 10% over the comparable period in the prior year. AVI anticipates the release of its interim results for the six months ending 31 December 2009 on 8 March 2010.
17 Dec 2009 16:51:03
(Official Notice)
Traditionally AVI has issued a voluntary trading update prior to entering the closed period at the end of December. Over the last few years the group`' business portfolio has changed, particularly with the growing contribution of our branded footwear and apparel businesses to group turnover over the festive season. Accordingly AVI believes it sensible to defer the publication of the voluntary trading update to January so as to include the actual December trading period.
03 Nov 2009 08:25:27
(Official Notice)
Mr S D Jagoe has resigned owing to work and travel commitments.
21 Oct 2009 13:10:34
(Official Notice)
At the annual general meeting of AVI held, Angus Band, the chairman of AVI, commented in relation to trading conditions that: "Revenue for the quarter ended September 2009 was in line with the prior year. Revenue growth was constrained by lower consumer disposable income, lower selling prices for I-J's products in selected European markets and some discretionary price reductions to support volumes in key grocery categories. Volumes in Indigo Cosmetics and Spitz within the fashion brand portfolio were sound for the quarter. The consolidated gross profit margin has improved slightly with the easing of some commodity costs, as well as the impact of a stronger Rand. This benefit has been partially offset by lower selling prices in several categories. Operating profit continues to benefit from the tight management of selling and administration costs. The outlook for the first half of the financial year is dependent on the continuity of current trading conditions and in particular the level of consumer demand over the festive season." This information has not been reviewed and reported on by AVI's auditors.
21 Oct 2009 13:08:38
(Official Notice)
At the annual general meeting of AVI shareholders held at 11:00 on Wednesday, 21 October 2009, all of the resolutions tabled at the meeting were approved by the requisite majorities. The special resolution granting general authority to repurchase AVI ordinary shares will be registered with the Companies and Intellectual Property Registration Office in due course.
28 Sep 2009 17:21:10
(Official Notice)
Shareholders are advised that AVI commenced posting of its annual report for the year ended 30 June 2009 on Friday, 25 September 2009. The annual report contains no modifications to the audited results which were published on the SENS on Monday, 7 September 2009, and accordingly the company will not publish an abridged report. The annual financial statements were audited by KPMG Inc and their report is available for inspection at the address of the company's registered office. Notice is hereby given that AVI's annual general meeting will be held at 2 Harries Road, Illovo, Sandton, on Wednesday, 21 October 2009 at 11:00 to transact business as stated in the notice of the annual general meeting circulated together with the annual report.
07 Sep 2009 09:18:36
(C)
Revenue from continuing operations increased by 12% to R7.5 billion (R6.7 billion). Net attributable profit rose by 4% to R507.7 million (R488.3 million). Headline earnings per share grew by 10.9% to 172.6cps (155.6cps).



Dividend

A final ordinary dividend of 52cps has been declared.



Annual report and AGM

The annual report for the year ended 30 June 2009 will be posted to shareholders on or about Friday, 25 September 2009. The financial statements will include the notice of the annual general meeting of shareholders to be convened on Wednesday, 21 October 2009.



Prospects

Despite lower interest rates we believe that it is likely that consumer demand will remain muted in the first half of the new financial year but would hope to see some improvement in the second half. In addition I-J, which is geared to export volumes, international prices and foreign exchange rates may not deliver the same level of profit in the year ahead if current exchange rates and export market demand persists.



However, AVI's diversified market-leading brand portfolio is well positioned to continue providing a strong value proposition to consumers during tough times. This strength combined with the prospect of further benefits from lower commodity costs, the ongoing focus on yields and cost savings, as well as improved innovation, should enable AVI to compete effectively for market share and sustain our growth ambition in the current climate.
30 Jul 2009 08:50:06
(Media Comment)
According to the Financial Mail, AVI has coped reasonably well with the slowing economy. The company is still operating at healthy margins and remained profitable in the half-year to December 2008. At a price of R18.20 and a p:e of 11.03 the group could be viewed as fully valued, but if the economy improves AVI could be among the first to benefit from an upturn.
29 Jun 2009 12:05:16
(Official Notice)
Group revenue for the eleven months to May 2009 was 12.4% higher than in the comparable period of the prior year. Growth in demand for the group's food and beverage brands has slowed progressively through the year as consumers' disposable income has come under increasing pressure, resulting in current demand at levels similar to a year ago in most categories. The personal care category has continued to perform strongly with our brands well positioned to gain support from consumers in tougher times. Demand for AVI's premium footwear brands was adversely impacted by reduced consumer spending and like-for-like revenue, excluding stores not open for a full year, was 9% lower than the same period in the previous year. Although the consolidated gross profit margin has stabilised in the second half of the year, it is still slightly below the level achieved in the second half of the previous year. Some softening in commodity prices has been offset by selective selling price adjustments to support volumes. Notwithstanding the lower gross profit margin, consolidated operating profit margin has been held at a similar level to last year.



Consolidated headline earnings per share for the continuing operations of the group for the year ending 30 June 2009 are expected to increase by between 5% and 10% over the headline earnings per share for the year ended 30 June 2008. Consolidated earnings per share for the continuing operations of the group for the year ending 30 June 2009, including net capital gains on the disposal of assets, are expected to reflect an improvement of between 5% and 10% over the earnings per share for the year ended 30 June 2008.



It is expected that AVI will release its audited results for the year ending 30 June 2009 on 7 September 2009.
17 Jun 2009 09:38:26
(Official Notice)
Having served as a non-executive director of the company for fourteen years, Mr P M Goss retired in the ordinary course on 11 June 2009.
02 Apr 2009 10:34:04
(Official Notice)
As previously reported, a foreign subsidiary of the group has since 2004 been involved in a dispute with the South African Revenue Service ("SARS"). The matters under dispute were complex and it was anticipated at that time that the legal process embarked on would take an extended period to complete. Shareholders are advised that on 30 March 2009 the foreign subsidiary and SARS reached agreement in terms of which an amount of R34 million was paid to SARS in full and final settlement of the dispute. After taking account of existing provisions related to this dispute, the settlement is not expected to have any material effect on headline earnings for the year ending 30 June 2009.
13 Mar 2009 09:56:18
(Official Notice)
The board of directors announced the appointment of Mr Kim Macilwaine to the Board as an independent non-executive director. The appointment is made with effect from 13 March 2009.
09 Mar 2009 11:33:46
(C)
Financial performance from continuing operations was robust. Revenue rose by 18.0% from R3.4 billion to R4.0 billion. The consolidated gross profit margin declined from 42.5% of revenue to 40.3% as a result of cost pressures which were only partially offset by selling price increases. Selling and administration costs were well contained and some volume leverage was achieved in categories with higher growth. Operating profit rose by 15.8%, from R461.5 million to R534.6 million and the operating profit margin decreased only slightly from 13.6% to 13.4%.



Dividend

An interim dividend of 36cps has been declared in line with AVI's interim dividend policy of a three times cover on diluted headline earnings per share from continuing operations.



Outlook

Household disposable income is likely to remain constrained by relatively high interest rates and reduced access to credit. This coupled with general consumer uncertainty as a result of the current global economic crises is likely to dampen demand in the second half. AVI's ongoing commitment to ensure, through a number of market initiatives, that its brands provide a sustained value proposition to consumers should position the group well to respond to this environment. In addition, there is ongoing focus on improving overall cost efficiency through cost savings and better yields which should increase the group's flexibility to respond to consumer needs. AVI is fortunate to have a portfolio of market-leading brands that has demonstrated defensive attributes over many decades which together with planned efficiency and product initiatives will allow the company to effectively compete for market share and sustain growth in these leaner times.
04 Mar 2009 15:28:36
(Official Notice)
AVI shareholders are referred to the AVI cautionary announcement dated 26 January 2009 regarding a potential offer by Tiger Brands Ltd for AVI and the Tiger Brands withdrawal of cautionary announcement released on SENS today, 4 March 2009. AVI shareholders are advised that they are no longer required to exercise caution when dealing in AVI shares.
26 Feb 2009 17:09:41
(Official Notice)
In its trading update on 24 December 2008 AVI advised that consolidated earnings per share for the continuing operations of the group for the six months ending 31 December 2008, including net capital gains on the disposal of assets, were expected to reflect an improvement of between 5% and 15% over the comparable period in the prior year. Due to the earlier than expected finalisation of the disposal of a non-core subsidiary that packed private label teas and coffees, capital gains on the disposal of assets are higher than expected. Consequently, consolidated earnings per share for the continuing operations of the group for the six months ending 31 December 2008, including net capital gains on the disposal of assets, are now expected to reflect an improvement of between 20% and 25% over the comparable period in the prior year.



The profit ranges relating to headline earnings that were provided in the previous trading update on 24 December 2008 remain unchanged. AVI will release its interim results for the six months ending 31 December 2008 on 9 March 2009.
26 Jan 2009 10:01:10
(Official Notice)
AVI shareholders are referred to the announcements by Tiger Brands Ltd ("Tiger Brands") dated 17 November 2008 and 18 November 2008 relating to a potential offer for AVI and to the AVI response announcement dated 17 November 2008. AVI hereby advises that further formal communication has been received from Tiger Brands regarding a potential offer ("the proposal"). The board of directors of AVI and its advisers are considering the terms of the proposal. Shareholders of AVI are therefore advised to exercise caution when dealing in AVI shares until a further announcement is made.
05 Jan 2009 08:51:19
(Media Comment)
Coronation Fund Managers chief investment officer Karl Leinberger said in Business Day that AVI's "good" trading update could make shareholders think twice about voting to accept Tiger Brands Ltd's uninvited offer for the company. Leinberger also commented that the trading statement was "quite a bit" above expectations and that AVI had an "excellent" management team.
24 Dec 2008 08:07:56
(Official Notice)
19 Dec 2008 10:01:23
(Official Notice)
Mr Mande Ndema company secretary of AVI has resigned from the company with effect from 31 December 2008.

20 Nov 2008 16:02:01
(Official Notice)
Mrs N J M Canca has resigned as a director of the company with effect from 19 November 2008.
20 Nov 2008 07:08:17
(Media Comment)
Oasis Asset Management said in Business Report that Tiger Brands Ltd's ("Tiger Brands'") R24.00 a share indicative offer for AVI was "not a fair price" despite offering a 62% premium on the company's closing price on Friday, 14 November 2008. Oasis invests a stake for clients of between 4%-5% in AVI. Oasis chief investment officer, Adam Ebrahim, commented that if the deal went through, there would be "too much control of the food supply chain in the hands of one company" and implied that at this price he would not support the deal.
17 Nov 2008 15:54:20
(Official Notice)
AVI shareholders are referred to the cautionary announcement released by Tiger Brands Ltd ("Tiger Brands") on SENS setting out a potential offer by Tiger Brands for the entire issued share capital of AVI.



Background

The board of directors of AVI ("the board") has to date received two unsolicited non-binding expressions of interest ("EOIs") from Tiger Brands on 8 October 2008 and 24 October 2008, respectively. In considering the EOIs, the company appointed advisers and met with three of its key shareholders, previously approached by Tiger Brands, at such shareholders' request. The board responded to Tiger Brands in writing setting out its reasons as to why it was of the view that the potential offers were not in the best interests of AVI or its shareholders. The key concerns as articulated by the board in the AVI letters to Tiger Brands and re-iterated in a subsequent discussion between the chief executives were as follows:

*the board is of the view that any potential offer must adequately represent the future prospects of the company and be accompanied by a 100% cash underpin supported by a confirmation of funding acceptable to the board;

*the board is unwilling to allow any form of due diligence, as was requested in the EOIs, that would allow a competitor access to confidential information;

*the board is of the view that the potential offer has a high degree of execution risk; and

*the board is unconvinced as to the commercial merits as set out by Tiger Brands in the EOIs.



Conclusion

The terms contained in the Tiger Brands announcement are materially the same as those contained in the second EOI dated 24 October 2008 and as such do not address the concerns raised by the board. The board wishes to re-iterate that it has not received a formal offer from Tiger Brands nor is it in discussions with Tiger Brands regarding such a potential offer. In the event that a formal offer is received, the board will consider such offer and provide the appropriate guidance to AVI shareholders.
15 Oct 2008 13:26:52
(Official Notice)
At the annual general meeting of AVI held, Angus Band, the Chairman of AVI, commented in relation to trading conditions that: "Revenue for the quarter ended September 2008 was 18% higher than the same period in the prior year. Revenue gains were supported by higher selling prices in response to rising input costs and reasonable volume gains in most categories. In general gross margins remain under pressure at current commodity prices and exchange rates. The outlook for the first half of financial year is dependent on the continuity of the volume growth experienced in the first quarter and in particular consumer demand over the festive season." This information has not been reviewed and reported on by AVI's auditors.
15 Oct 2008 13:25:14
(Official Notice)
At the annual general meeting of AVI shareholders held at 11:00 on Wednesday 15 October 2008, all of the resolutions tabled at the meeting were approved by the requisite majorities. The special resolution granting general authority to repurchase AVI ordinary shares will be registered with CIPRO in due course.
23 Sep 2008 12:20:21
(Official Notice)
AVI will post its annual report for the year ended 30 June 2008 to shareholders on Tuesday, 23 September 2008. The annual report contains no modifications to the audited results which were published on SENS on Thursday, 4 September 2008, and accordingly the company is not publishing an abridged report. The annual financial statements were audited by KPMG Inc.



Notice is hereby given that AVI`s annual general meeting will be held at 2 Harries Road, Illovo, Sandton on Wednesday, 15 October 2008 at 11h00 to transact business as stated in the notice of the annual general meeting circulated together with the annual report.
04 Sep 2008 08:05:23
(C)
Overall financial performance from continuing operations was pleasing with revenue and operating profit up 13.8% and 13.7% respectively. A total of R549.7 million was returned to shareholders through a payment out of share premium of 75 cents per share which amounted to R230.6 million and through share buy backs in the open market amounting to R319.1 million. Headline earnings increased by 12.0% from R434.3 million to R486.7 million while the weighted average number of shares in issue decreased by 2.5% as a result of the share buy-back. Consequently headline earnings per share increased by 14.9% to 159.0 cents per share.



Dividends

A final dividend of 47 cents per share has been declared (2007: 43 cents per share) bringing the total dividend for the year to 80 cents per share (2007: 73 cents per share).



Prospects

The established defensive characteristics of AVI`s food, beverage and personal care brands when consumer spending is constrained have served the company well through the second half. However, it is clear that volume growth is slowing down and the group will need to work hard to maintain sales volumes, especially as further selling price increases have already been implemented post 30 June 2008 as a consequence of wage increases and sustained high raw material, packaging, transport and energy costs. While there is no doubt that trading conditions will be tougher in 2009 the group remains confident that AVI`s strong defensive brand portfolio, combined with planned efficiency and product initiatives will underpin the group?s ability to sustain earnings growth over the medium term.
26 Jun 2008 09:06:36
(Official Notice)
Group revenue for the eleven months to May 2008 was 12.2% higher than in the comparable period of the prior year. Demand for the group's products has, in general, remained sound through the second half of the year in the context of reduced consumer disposable income and selling price increases driven by a weaker rand and materially higher commodity and fuel costs. Seafood revenues were impacted by lower hake volumes in line with reductions in the South African quota.



Following an extensive review AVI's board has resolved to disinvest from the Argentinean hake and shrimp operations conducted by Alpesca s.a.("Alpesca"), a wholly owned subsidiary of Irvin and Johnson Holding Company (Pty) Ltd ("I - J"). Notwithstanding the value inherent in Alpesca's long term hake and shrimp fishing rights and strong processing capabilities, this asset has proven difficult for I - J to achieve consistent economic returns from and it has detracted significantly from the focus on optimising I - J's South African operations. The prior year's results will be re-presented to reflect Alpesca's contribution to group results as results from discontinued operations.



It is expected that AVI will release its audited results for the year ending 30 June 2008 on 4 September 2008. The information above has not been reviewed and reported on by the group's auditors.
12 Mar 2008 09:17:50
(Official Notice)
Shareholders are advised that AVI has through a wholly-owned subsidiary, AVI Investment Services (Pty) Ltd ("AIS") purchased 3% of its own shares on the open market of the JSE Ltd, in accordance with the general authority granted by its shareholders at its annual general meetings held on 18 October 2006 and 24 October 2007. The repurchase programme commenced on 12 September 2007 in terms of the general authority granted on 18 October 2006 and continued after renewal of the general authority on 24 October 2007. A total of 10 392 398 shares, equivalent to 3.03% of the issued share capital of AVI, had been purchased by AIS by 10 March 2008. No shares were purchased during AVI's closed period. Repurchases have been and will in future continue to be funded from available cash resources.
06 Mar 2008 08:05:02
(C)
Revenue rose by 10.1% from R3.3 billion to R3.6 billion as a result of solid volume growth, mainly in the biscuits, tea, cosmetics and footwear categories and higher selling prices in the food and beverage business units. The consolidated gross profit margin declined slightly as a result of high commodity prices which were partially offset by price increases and the group?s practice of hedging key commodities on a rolling basis. Operating profit rose by 12.5% from R407.9 million to R458.8 million with the operating profit margin up from 12.4% to 12.7%. Net financing costs increased from R19.4 million in 2007 to R25.7 million as a result of higher interest rates and an increase in the group?s gearing to fund working capital and capital expenditure requirements.



Dividends

An interim dividend of 33 cents per share has been declared in line with AVI`s interim dividend policy of a three times interim cover on diluted headline earnings per share from continuing operations.



Prospects

From a demand point of view, the defensive characteristics of AVI`s food, beverage and personal care brands in times when consumers have less to spend are well established and there is good opportunity for the group?s footwear and apparel brands to continue to gain market share. This notwithstanding, it seems highly probable that rates of growth in the next six months will slow especially if further cost driven price increases become necessary. Whilst inherently volatile, white fish resources in South Africa are at levels that support economic returns and look set to perform soundly in the year ahead. In Argentina, the hake total allowable catch for calendar year 2008 has been set at a 20% lower level than for 2007. This, together with ongoing unrealistic wage demands, is forcing a review of the operating model and the investment in Alpesca. While it appears likely that trading conditions for the second semester will be more difficult than those experienced in the prior year, the board remain confident that AVI`s strong brand portfolio, combined with planned efficiency and product initiatives will underpin AVI`s ability to sustain earnings growth over the medium term.
15 Jun 2006 15:28:00
(Official Notice)
AVI has agreed to accelerate its buy out of the minority shareholders of Spitz with effect from 1 July 2006. The transaction is subject to a verification of Spitz's year to date trading performance. Should the transaction become unconditional, the consideration of R334 million will immediately become payable. The review will be finalised by no later than 10 July 2006.
12 Jun 2006 11:44:48
(Official Notice)
In a trading update announced on 12 June 06, AVI noted that for the eleven months ended 31 May 06 revenue of its Food brands division rose 5.6% to R4.18 billion (R3.96 billion). Semi-durable brands rose 88.7% to R817 million (R433 million). Group sales improved 14.1% compared to the prior comparable period. On a like-for-like basis, excluding the revenue from A-D Spitz, revenue increased by 5.9% due in the main to solid volume growth from National Brands, price increases at Irvin - Johnson (I-J) and an improved performance from Indigo Cosmetics relative to the same period in the prior year. It is expected that AVI will release its audited results for the twelve months ending 30 June 2006 on 11 September 2006.
11 May 2006 11:55:00
(Official Notice)
Mr Owen Peter Cressey has been appointed to the board of the company as executive director with effect from 10 May 2006. Mr Cressey replaces Mr Robert Katzen as the Chief Financial Officer of the company. Mr Katzen retains his membership of the board as executive director.
10 May 2006 15:37:19
(Official Notice)
Rob Katzen has officially been appointed as the managing director of the Real Beverage Company (Pty) Ltd. Effective 1 July 2007, Rob will be appointed as Business Development Director of AVI. After an extensive selection process, Owen Cressey has replaced Rob as chief financial officer.
09 May 2006 14:36:06
(Official Notice)
Peter Bester, non-executive director, has retired from the board. Mr Bester, who has reached the mandatory Board retirement age, has been on the board since 2001.
05 May 2006 12:16:11
(Permanent)
Figures for the June 05 financials and future financials are displayed on a continuing basis only.
03 Apr 2006 11:02:31
(Official Notice)
On 2 December 2005 AVI announced that Roy Gordon, the managing director of I-J Holding Company (Pty) Ltd ("I-J"), would step down during the first half of 2006. The board of directors of AVI has announced that Francois Kuttel will assume this position on 1 May 2006. Francois has had over 15 years of experience in the fishing industry. He has held management positions in various companies engaged in fishing, both locally and internationally.
13 Mar 2006 10:07:59
(C)
AVI's interim results were divided into those from continuing operations and results from discontinued operations which comprised I-J's pelagic operation, was disposed of in November 05. Revenue from continuing operations rose 16% to R2.8 billion, operating profit was also 16% higher at R289.7 million with profit from continuing operations up 13% to R179.1 million. The group attributed the rise in revenue to the inclusion of A-D Spitz saying that on a like for like basis turnover was constrained by deflationary pressure on selling prices and would have risen 7%. Margins dropped by 8.2% as a result of the poor performance of I-J and the fresh-to-market brands The 72% drop in profit attributable to equity holders is a result of a R216.2 million profit from discontinued operations and R311.1 million gain on the disposal of discontinued operations accounted for during the comparable period. Headline earnings from continuing operations rose 19% to 60.8cps. AVI reported an88% rise in financing costs but commented that gearing remained low placing the group in good position should acquisition opportunities arise.



Dividend

An interim dividend of 20 cps was declared.



Prospects

AVI commented that, given the traditional bias of AVI's financial performance to the first semester, the poor performance of I-J, a comparatively higher tax rate and an increase in interest payable following the acquisition of Spitz, AVI's headline earnings growth for the financial year was expected to be well below that achieved in the six months ended 31 December 2005.
09 Dec 2005 11:06:10
(Official Notice)
AVI will be entering a "closed period" on 15 December 2005 ahead of the release of its interim results for the six months ending 31 December 2005. The following update is based on the latest available trading information and covers performance for the group's continuing operations.



Despite a generally deflationary environment, group sales improved over the prior period by 14.2%. On a like-for-like basis, excluding the turnover of A-D Spitz (Pty) Ltd which was acquired in July 2005, the growth in group sales was 7.1%. Improvements in turnover were achieved in all the material brands of the group and in particular, National Brands Ltd and Spitz have performed above expectations. The board of directors of AVI has determined that it would be appropriate to provide relevant information on the results of the continuing operations of the group in addition to the guidance required in terms of the Listings Requirements of the JSE. As reported at the AGM on 19 October 2005, the group's fishing operations performed below expectations in the first three months of this financial year. The performance of I-J has not improved largely due to:

*Consolidated earnings per share for the continuing operations of the group for the six months ending 31 December 2005 are expected to reflect an improvement of between 10% and 20% over the earnings for the six months ending December 2004; before taking the gain on disposal of Vector Logistics (Pty) Ltd into account;

*Consolidated headline earnings per share for the continuing operations of the group for the six months ending 31 December 2005 are expected to increase by between 10% and 20% above the headline earnings per share for the same period in the prior year.

Earnings and headline earnings for the six months ending December 2004 have been restated in line with disclosures adopted for the 2005 financial year - namely to report the I-J pelagic operation as discontinued, and to reflect 100% of I-J's earnings (previously minority interests were excluded). As a result of this restatement earnings per share for the six months ending December 2004 are now stated at 50.7cps and headline earnings per share are now stated at 51.1cps. It is expected that AVI will release its interim results for the six months ending 31 December 2005 on 13 March 2006.
02 Dec 2005 11:59:16
(Official Notice)
Roy Gordon, the current I-J group managing director has announced that he will be stepping down from his position at I-J during the first half of 2006 for personal reasons. Roy has spent 28 years at I-J, the past ten and a half as I-J's group managing director. In addition to his role as managing director of I-J, Roy has been an executive director of the group since 1995. Roy has resigned from this position with immediate effect.
19 Oct 2005 14:09:39
(Official Notice)
The ordinary resolutions and special resolution proposed at the annual general meeting were approved by the requisite majorities.
27 Sep 2005 08:03:36
(Official Notice)
The company will post its annual report for the year ended 30 June 2005 to shareholders on Tuesday 27 September 2005. The annual report contains no modifications to the audited results which were published on SENS on Wednesday 7 September 2005, and accordingly the company is not publishing an abridged report.



The company`s annual general meeting will be held at 19 Impala Road, Chislehurston, Sandton on Wednesday, 19 October 2005 at 11:30 to transact business as stated in the notice of the annual general meeting circulated together with the annual report.
07 Sep 2005 09:40:29
(C)
The performance of the group`s continuing operations was boosted by strong domestic volumes and the impact of acquisitions. Despite turnover declining to R6.6 billion (R7.0 billion) due to the impact of the rand, gross profit rose to R2.7 billion (R1.2 billion), benefiting from economies of scale and lower raw and wrap costs. Income attributable to shareholders rose to R874 million (R577 million) while headline earnings jumped to 108.2cps (85.9cps). A dividend of 37cps was declared for the period.



Prospects

AVI, with its portfolio of leading consumer brands, is well positioned to take advantage of the structural consumption shift occurring in the South African market, in particular within the growing middle income consumer sector. The acquisitions are also expected to contribute positively and the group does not anticipate a recurrence of the industrial unrest in Argentina. Taking these factors into account the board anticipates that a real increase in earnings will be achieved in the next financial year and that the group will continue to deliver superior returns for shareholders.
19 Aug 2005 11:27:53
(Official Notice)
During the course of the 2005 financial year, a number of significant transactions took place which had a material impact on the results of the group. These included:

*The sale of Vector Logistics on 2 December 2004, which resulted in a capital profit for the group of R307m. The results from this operation will consequently only be included in group results for the five months to 30 November 2004.

*The acquisition of the minority interest in Consol for R526m which increased the group`s interest in Consol from 81% to 100% and the subsequent unbundling and separate listing of Consol on 28 February 2005. As a result of these transactions the group will consolidate 81% of Consol`s earnings for the period 1 July to 10 October 2004 and 100% of Consol`s earnings from 11 October 2004 to 25 February 2005. No further contribution from Consol will be recognised after this date.

*The decision to divest from I-J`s pelagic fishing operation. The results from this operation have consequently been reclassified as discontinued and the prior year results will be restated accordingly.



Consolidated group earnings per share for the year ended 30 June 2005 are expected to reflect an improvement of between 45% and 55% after taking account of the profit on sale of Vector. Consolidated group headline earnings per share are expected to decline between 0% and 10% following the unbundling of Consol and the sale of Vector. Diluted headline earnings per share for the continuing operations of the group are expected to increase between 15% and 25% for the year.



It is expected that AVI will release its results for the year ended 30 June 2005 on 7 September 2005.
21 Jul 2005 09:48:29
(Official Notice)
Shareholders of AVI are referred to the cautionary announcement dated 1 July 2005 and are advised that the discussions referred to have been terminated. Accordingly, shareholders are advised that in respect of these discussions, caution is no longer required when trading in their AVI shares.

01 Jul 2005 16:55:35
(Official Notice)
Shareholders are advised that AVI is in discussions which relate to an acquisition within the branded food sector. If successfully concluded, this transaction may have a material effect on the price of AVI shares. Accordingly, shareholders are advised to exercise caution in dealing the companys shares until a further announcement is made.
20 Jun 2005 15:02:41
(Official Notice)
It is customary for AVI to provide a trading update twice yearly before the commencement of the `closed period` leading up to the release of its interim and preliminary annual results. AVI will be announcing its audited results for the year ended 30 June 2005 on or about 7 September 2005, and its `closed period` will commence after close of business on 24 June 2005.



Continuing operations

The strong local consumer demand experienced during the first half of the financial year has continued, contributing to estimated group volume growth from continuing operations of 6.4%, excluding the effect of acquisitions. Turnover from continuing operations, excluding acquisitions, was up by 4.9% to R4.2bn. This was impacted by price deflation in most categories and the effect of the strong rand on export realisations. Denny Mushrooms and Sir Juice, which were acquired with effect from August 2004, contributed an additional R250m or 6.3% to group turnover growth.



Discontinued operations

Consol was unbundled and listed on the JSE Securities Exchange South Africa on 28 February 2005. Accordingly, the results for Consol for the first eight months of AVI`s financial year will be included in the group`s results. Consol released a trading update on 9 June 2005 which reflected turnover growth of 5.2% to R2.1bn and volume growth of 3.8% for the eleven months ended 31 May 2004. Vector was disposed of on 2 December 2004 and the results of Vector for the first five months of the financial year will be included in the group`s results. AVI will distinguish between continuing and discontinued operations, with the results of both Consol and Vector being disclosed as discontinued operations. AVI is not at this time providing additional information on earnings for the eleven months under review. However, given the changes in group structure referred to above, it is regarded as appropriate to provide guidance on the diluted headline earnings per share (`DHEPS`) figures for the twelve months ended 30 June 2004. After taking into account the impact of IFRS on thes eearnings, the pro forma DHEPS for this twelve month period were 84.8c for continuing operations, with discontinued operations contributing an additional 101.5c to group DHEPS.
12 May 2005 11:16:36
(Permanent)
Results from June 04 are presented in terms of IFRS
14 Nov 2003 11:37:21
(Permanent)
Changed name to AVI Ltd with effect from 14 Nov 03.
06-Nov-2018
(X)
Listed on the Johannesburg Stock Exchange in the food products sector, AVI Ltd.?s extensive brand portfolio includes more than 50 brands.



AVI?s lifeblood is its portfolio of remarkable brands, many of which carry a heritage and pedigree built up over decades and some of which occupy a place in our national character. It would not be a stretch to claim that the vast majority of South Africa?s population has at some time or another been conscious of, consumed or aspired to own, one of our brands.


Send e-mail to for any enquiries or see Contact Details for phone numbers
Home   •   Terms & conditions   •   PAIA   •   Privacy Policy   •   Security Notice   •   Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.
© 2018 SHARENET (PTY) Ltd, Cape Town, South Africa
Best in 800x600 with IE6 or Mozilla Firefox