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04-Oct-2018
(Official Notice)
The following disclosure is made in acc541.3 cents - 582.3 ordance with Section 3.4 (b) of the Listings Requirements of the JSE Limited. Pioneer Foods advises that for the year ended 30 September 2018, a reasonable degree of certainty exists that operating profit and earnings will be as follows:

30 September 2018 expected range and % change

*Headline earnings per share: 541.3 cents - 582.3 cents, 32% - 42% higher

*Adjusted headline earnings per share (note 1): 548.3 cents - 592.5 cents , 24% - 34% higher

*Earnings per share : 573.7 cents - 612.8 cents, 47% - 57% higher



1. Adjusted for the IFRS 2 share-based payment charge relating to the Phase 1 (2006) B-BBEE transaction and the effect of the related hedge. An adjustment was also made in September 2017 for specific once-off merger and acquisition costs (R17.6 million).



Trading update

Pioneer Foods delivered positive revenue and volume growth from existing and acquired businesses at supportive price points whilst maintaining cost discipline. The consequent procurement benefits and efficiency gains enhanced operating profit over a weak corresponding period. Overall revenue growth was positive notwithstanding the material soft commodity deflation during the period. Trading conditions continue to reflect a constrained demand environment as consumers are faced with increased inflationary pressures. This was more prevalent in the second half as rising input costs were exacerbated by the weakening exchange rate and persistent oil price increases. Increasing competitor tensions, weaker consumer demand and the resultant inability to fully recover input cost inflation characterises the current trading environment.



Pioneer Foods is due to release its full year results for the year ended 30 September 2018 on or about 19 November 2018. The financial information contained in this trading update, has not been reviewed or reported on by the Group?s external auditors.
21-May-2018
(C)
Revenue for the interim period lowered to R9.9 billion (R10.2 billion) whilst gross profit was higher at R2.9 billion (R2.6 billion). Operating profit grew to R991.7 million (R693.4 million). Profit for the period attributable to owners jumped to R620.3 million (R459.6 million). In addition, headline earnings per share shot up to 317.1 cents per share (244.4 cents per share).



Dividend

A gross interim dividend for the six months ended 31 March 2018 of 105 cents (105 cents) per share has been approved and declared by the Board from income reserves.



Company outlook

The Group is well positioned to deliver sustained volume and improved value growth while maintaining a firm handle on costs and efficiencies. The Group anticipates further improvement in performance in the second half of the financial year.
19-Apr-2018
(Official Notice)
09-Feb-2018
(Official Notice)
Shareholders are hereby advised that at the Annual General Meeting of the company held today, 09 February 2018 at the Table Bay Hotel, V-A Waterfront, Cape Town (?AGM?), all of the resolutions were passed by the requisite majority of the Pioneer Foods shareholders.
09-Feb-2018
(Official Notice)
19-Dec-2017
(Official Notice)
Shareholders of Pioneer Foods (?shareholders?) are hereby advised that the 2017 summarised consolidated financial statements of the company for the year ended 30 September 2017 and incorporating the notice of annual general meeting (?AGM?) (?Abridged Report?), has been mailed to shareholders today, 19 December 2017, and contains no modifications to the audited results which were announced on SENS on Monday, 20 November 2017.



The following reports will be available as from 19 December 2017 for download on the company?s website at www.pioneerfoods.co.za:

* Abridged Report, incorporating a form of proxy.

* The integrated annual report, containing the summarised consolidated annual financial statements (?Integrated Report?)

* The consolidated audited annual financial statements of the company for the year ended 30 September 2017.



Should you require a printed copy of either the Abridged Report or Integrated Report, which will be available from 11 January 2018, please contact Jay-Ann Jacobs at Jay-Ann.Jacobs@pioneerfoods.co.za or Rayhaan Samodien at Rayhaan.samodien@pioneerfoods.co.za to request a copy.



Notice of AGM

Notice is hereby given that the AGM of Pioneer Foods will be held at 10h00 on Friday, 9 February 2018, at the Table Bay Hotel, V-A Waterfront, Cape Town to transact the business as set out in the notice of AGM contained in the Abridged Report.



The date on which shareholders must be recorded as such in the share register to be eligible to attend and vote at the AGM is Friday, 2 February 2018, with the last day to trade being Tuesday, 30 January 2018.
13-Dec-2017
(Official Notice)
Pioneer Foods announced that it is adding the UK-based granola brand, Lizi?s to its stable of well- known breakfast cereals. Pioneer Foods is the market leading breakfast cereal manufacturer in South Africa with household brands such as Weet-Bix, ProNutro, and Bokomo corn flakes among others. The transaction which is effective immediately sees Pioneer Foods Foods UK (a 100% owned subsidiary of Pioneer Foods) acquiring 100% of the issued share capital of The Good Carb Food Company, (owner of the Lizi?s granola brand), for an undisclosed amount. Pioneer Foods Foods UK has been manufacturing Lizi?s products under contract for The Good Carb Food Company, and has been instrumental in co-developing products for some time and as a result has gained significant product and market knowledge.Pioneer Foods
06-Dec-2017
(Official Notice)
Notice is hereby given that the Company?s annual compliance report in terms of section 13G(2) of the Act has been published and is available on the Company?s website at www.pioneerfoods.co.za/sustainability/our-transformation.



20-Nov-2017
(C)
Revenue for the year lowered to R19.6 billion (R20.6 billion) whilst gross profit decreased to R5.2 billion (R6.1 billion). Operating profit dipped to R1.1 billion (R2.3 billion). Profit for the year attributable to owners tumbled to R726.1 million (R1.7 billion). Furthermore, headline earnings per share more than halved to 410.1 cents per share (904.3 cents per share).



Dividend

A gross final dividend of 260 cents (2016: 260 cents) per share has been approved and declared by the Board for the year ended 30 September 2017 from income reserves.



Company prospects

While we anticipate demand to remain constrained in 2018, we foresee a positive outlook for Pioneer Foods in the current financial year and beyond, with continuing actions to restore the margin while maintaining steady cash flow generation.



We expect that maize will deliver a normalised performance in 2018. Bakeries performance will benefit from the investment in additional capacity at the Aeroton and Shakaskraal facilities, with the latter expected to come on stream in January 2018. With a more competitive supply chain and brand portfolio strategy in place, performance of the beverage category should accelerate in 2018. A slower recovery is however expected in export performance due to structural challenges in key markets. Fruit profitability should improve in 2018 with early indications of increased global pricing and subject to the 2018 harvest yielding the positive result currently expected. We are concerned about the persistent drought in the Western Cape and the potential effect it may have on operations and selected raw material pricing, and are actively pursuing all available options to mitigate these operating risks.
06-Nov-2017
(Official Notice)
Pioneer Foods announced the acquisition of the outstanding 50.1% in its joint venture, from Heinz Foods SA (Pty) Ltd., a subsidiary of the Kraft Heinz Company. At the close of the transaction, Heinz Foods SA will become a wholly owned subsidiary of Pioneer Foods. The transaction is expected to close in the first quarter of 2018, pending regulatory approval.
23-Oct-2017
(Official Notice)
01-Sep-2017
(Official Notice)
Pioneer Foods Chief Executive Officer Phil Roux has, after consultation with the Board, informed the Board of his decision to retire as Chief Executive Officer (CEO) and as a director of the Company, effective 1 October 2017. The company will retain his services as a strategic advisor until 30 November 2019, which will enable Pioneer Foods to continue leveraging his experience and expertise to the benefit of the group.



The internal management structure has been set up in such a way that it allows for a seamless transition in executive leadership. Accordingly, the Board announced that Tertius Carstens will take over as CEO on 1 October 2017.
08-Aug-2017
(Official Notice)
Pioneer Foods group turnover decreased by 4% for the ten months ended 31 July 2017, compared to a 2% increase reported for the six months ended 31 March 2017. This can mainly be attributed to price deflation in maize resulting in Essential Foods? revenue declining in the second six months of the financial year.



At the half year, the company indicated that it anticipated an improved performance in the 2nd half. This has, however, materialised at a slower rate than anticipated due to a significant slowdown in the local economy, aggressive price based competition and the lowest international prices recorded on raisins in 7 years. African export markets have also shown no sign of recovery.



Volume contraction in most categories remains overwhelmingly the single biggest performance inhibitor with a concomitant compression in margins. Importantly, the Essential Foods Division has exited the expensive maize position and commenced trading at more normalised margins from July. The Aeroton bakery has also been successfully commissioned and is delivering positive results. Sustained cost and efficiency disciplines continue to be exercised.



Whilst the medium term growth outlook for South Africa remains constrained, the Company will be judged on its ability to increase market share in a contracting environment, a restoration of margins and overall financial performance in relative terms. Management is positive that 2018 will portend greater upside and a recovery opportunity for the Company at large. Brand strategies are robust, investment in growth assets are opportune, and a recurrence of the 2017 anomalies is unlikely for the 2018 fiscal. The financial information on which this trading statement is based has not been reviewed or reported on by the Company?s auditors.

19-Jun-2017
(Official Notice)
Further to the SENS published on 18 May 2017, the Board announced the appointment of Mr Martin Neethling as Business Executive: Groceries, effective from 01 July 2017.
22-May-2017
(C)
Revenue for the interim period increased to R10.2 billion (R10.0 billion) whilst gross profit lowered to R2.6 billion (R3.1 billion). Operating profit took a knock to R693.4 million (R1.4 billion). Profit attributable to owners tumbled to R459.6 million (R1.0 billion). Furthermore, headline earnings per share dropped to 244.4 cents per share (556.4 cents per share).



Dividend

A gross interim dividend for the six months ended 31 March 2017 of 105 cents (2016: 105 cents) per share has been approved and declared by the Board from income reserves.



Company outlook

We anticipate an improvement in performance in the second half of the financial year notwithstanding a constrained trading environment in South Africa. Various factors should assist in improving profitability, namely:

* Increased raisin supply, however at a lower level of profitability to the prior year

* Lower maize input costs from June

* Lower beverage input costs

* Aeroton bakery and Weet-Bix capacity



Pioneer Foods will continue to be vigilant for acquisitions as a growth vector to bolster the core business.
18-May-2017
(Official Notice)
Shareholders were advised that, having followed a robust recruitment process in evaluating external and internal candidates, the Chairman, the Human Capital Committee and the Board announced the appointment of Felix Lombard as the new CFO of Pioneer Foods. This process was unfortunately delayed by recent corporate activity.



Felix will assume the role of CFO from 1 July 2017.
04-May-2017
(Official Notice)
Shareholders are referred to the trading statement for the six months ended 31 March 2017 issued on 21 February 2017. Pioneer Foods is now in the position to narrow the range that was published.



Shareholders are hereby advised that, for the six months ended 31 March 2017, a reasonable degree of certainty exists that the company?s:



Operating profit before items of a capital nature, adjusted for the impact of the Phase I B-BBEE share-based payment charge and the marked-to-market effect of the related hedge (?BEE SBP?) amounting to a net cost of R3.1 million (31 March 2016: gain of R142.7 million) and once-off merger and acquisition (?M-A?) costs of R9.3 million, is expected to decrease by between 40% and 45% from the R1 236 million as reported for the six months ended 31 March 2016; and



Adjusted headline earnings per share, adjusted for the aforementioned BEE SBP and once-off M-A costs is expected to be between 242.2 cents and 267.0 cents per share compared to the 479.3 cents per share for the prior corresponding period, being a decrease of between 44% and 49%; and



Headline earnings per share is expected to be between 233.0 cents and 261.5 cents per share compared to the 556.4 cents per share for the prior corresponding period, being a decrease of between 53% and 58%; and



Earnings per share is expected to be between 234.0 cents and 262.5 cents per share compared to the 560.1 cents per share for the prior corresponding period, being a decrease of between 53% and 58%.



As stated in the previous early trading update, the major variance in financial performance can be ascribed to maize and fruit, which should largely be of a non-recurring nature. The outlook for the second half of the financial year to 30 September 2017 should reflect an improvement on the first half.
21-Apr-2017
(Official Notice)
Shareholders are referred to the cautionary announcement dated 7 March 2017 in terms of which shareholders were informed that the Company had been approached to explore a material transaction.



Shareholders are hereby advised that, due to the recent sovereign debt rating downgrades in South Africa and the potential for additional downgrades, the parties have decided to discontinue negotiations at this time. Accordingly, caution is no longer required to be exercised by shareholders when dealing in the Company?s securities.
08-Mar-2017
(Official Notice)
Shareholders are referred to the SENS announcement released by the company on 16 November 2016, advising shareholders of the acquisition of a 49.89% stake in Weetabix East Africa Ltd.



The company announces that the transaction was unconditionally approved by the Competition Authority of Kenya and all other conditions precedent to the transaction have now been fulfilled.

07-Mar-2017
(Official Notice)
Shareholders are hereby informed that the Company has been approached to explore a material transaction which may have an effect on the share price of the Company if implemented. The anticipated corporate activity is in keeping with Pioneer Foods? strategic direction. Shareholders are advised that whilst the Company is exploring the merits of the proposed transaction, no final decision has been taken by the Company?s board, and accordingly shareholders should exercise caution when dealing in the Company?s securities until a further announcement is made.
21-Feb-2017
(Official Notice)
Shareholders are referred to the trading update issued on 10 February 2017 (?Trading Update?) and are hereby advised that Pioneer Foods is now in a position to issue a trading statement for the six months ended 31 March 2017.



Shareholders are hereby advised that a reasonable degree of certainty exists that:

- the earnings per share of the Company for the six month period ending 31 March 2017 is expected to be between 38% and 55% lower than that reported in the previous corresponding period. Accordingly, earnings per share is expected to be between 252.0 and 347.3 cents per share compared to the 560.1 cents per share reported for the previous corresponding period; and

- the headline earnings per share of the Company for the six month period ending 31 March 2017 is expected to be between 38% and 55% lower than that reported in the previous corresponding period. Accordingly, headline earnings per share is expected to be between 250.4 and 345.0 cents per share compared to the 556.4 cents per share reported for the previous corresponding period.



Earnings and headline earnings per share for the previous six month period ended 31 March 2016 was significantly enhanced by an IFRS 2 share-based payment gain amounting to R142.7 million relating to the Phase 1 (2006) B-BBEE transaction.
21-Feb-2017
(Official Notice)
Shareholders are referred to the trading update issued on 10 February 2017 (?Trading Update?) and are hereby advised that Pioneer Foods is now in a position to issue a trading statement for the six months ended 31 March 2017.



Shareholders are hereby advised that a reasonable degree of certainty exists that:

*the earnings per share of the Company for the six month period ending 31 March 2017 is expected to be between 38% and 55% lower than that reported in the previous corresponding period. Accordingly, earnings per share is expected to be between 280.1 and 347.3 cents per share compared to the 560.1 cents per share reported for the previous corresponding period; and

*the headline earnings per share of the Company for the six month period ending 31 March 2017 is expected to be between 38% and 55% lower than that reported in the previous corresponding period. Accordingly, headline earnings per share is expected to be between 278.2 and 345.0 cents per share compared to the 556.4 cents per share reported for the previous corresponding period.



Earnings and headline earnings per share for the previous six month period ended 31 March 2016 was significantly enhanced by an IFRS 2 share-based payment gain amounting to R142.7 million relating to the Phase 1 (2006) B-BBEE transaction.



As previously stated in the Trading Update, the outlook for the second half of the financial year to 30 September 2017 should reflect an improved performance due to:

*anticipated improvement of maize profitability;

*satisfactory raisin crop;

*new Weet-Bix capacity coming on-stream;

*the commissioning of the Aeroton bakery upgrade;

*bakeries in the Western Cape regaining momentum; and

*cost respite on key inputs.



The major financial performance impact can be ascribed to maize and fruit, which should be of a non- recurring nature consequent to severe inclement weather encountered.



The financial information on which this trading statement is based has not been reviewed or reported on by the Company?s auditors.



10-Feb-2017
(Official Notice)
Shareholders are hereby advised that at the annual general meeting of the Company held on 10 February 2017 at Lanzerac Hotel - Spa, Stellenbosch, Western Cape (?AGM?), all of the resolutions were passed by the requisite majority of the Pioneer Foods shareholders.
10-Feb-2017
(Official Notice)
20-Dec-2016
(Official Notice)
Shareholders of Pioneer Foods (?Shareholders?) are hereby advised that the 2016 summary consolidated audited annual financial statements of the Company for the year ended 30 September 2016 and incorporating the notice of the annual general meeting (?AGM?) (?Abridged Report?), has been posted to Shareholders today, 20 December 2016, and contains no modifications to the audited results which were announced on SENS on Monday, 21 November 2016.



The Abridged Report, incorporating a form of proxy is available for download on the Company?s website at www.pioneerfoods.co.za or can be mailed to Shareholders on request. Should you require a printed copy of the Abridged Report, please contact Rayhaan Samodien at Rayhaan.samodien@pioneerfoods.co.za or Jay-Ann Jacobs at Jay-Ann.Jacobs@pioneerfoods.co.za to request a copy.



The integrated annual report, containing the summary consolidated annual financial statements (?Integrated Report?) will be available as from 20 December 2016 for download on the Company?s website at www.pioneerfoods.co.za or can be mailed to Shareholders on request from 11 January 2017. Should you require a printed copy of the Integrated Report, please contact Rayhaan Samodien at Rayhaan.Samodien@pioneerfoods.co.za or Jay-Ann Jacobs at Jay- ann.Jacobs@pioneerfoods.co.za to request a copy.



The consolidated audited annual financial statements of the Company for the year ended 30 September 2016 will be available for download on the Company?s website at www.pioneerfoods.co.za as from 20 December 2016.



Notice of AGM

Notice is hereby given that the AGM of Pioneer Foods will be held at 09h00 on Friday, 10 February 2017, at the Lanzerac Hotel - Spa, Lanzerac Road, Stellenbosch, 7600 to transact the business as set out in the notice of AGM contained in the Abridged Report. The date on which Shareholders must be recorded as such in the share register to be eligible to attend and vote at the AGM is Friday, 3 February 2017, with the last day to trade being Tuesday, 31 January 2017.
21-Nov-2016
(C)
Revenue for the year increased to R20.6 billion (2015: R18.7 billion). Gross profit rose to R6.1 billion (2015: R6 billion), operating profit was higher at R2.3 billion (2015: R1.8 billion), while profit for the year attributable to owners of the parent from continuing operations grew to R1.7 billion (2015: R1.1 billion). Furthermore, headline earnings per share came in at 904.3 cents per share (2015: 665.3 cents per share).



Dividend

A gross final dividend of 260 cents per share has been approved and declared by the Board for the year ended 30 September 2016.



Outlook

The outlook remains challenging in South Africa. Political and market stability is essential in order to restore confidence and stimulate growth in the economy. Pioneer Foods is not immune to the aforementioned. Strategic fixed capital investments come on stream in the new calendar year, brand strategies are robust, and a cost culture is well embedded within the business. Collectively these will assist in mitigating challenging trading conditions. The precarious maize position and reduced raisin crop will impact performance in the 1st half of the new financial year, however we remain confident that Pioneer Foods can sustain the momentum of profitable top line growth for the full year. We are optimistic about recent acquisitions and will continue to deploy capital efficiently to secure long term growth for the company and our shareholders.

16-Nov-2016
(Official Notice)
Pioneer Foods announces the acquisition of a 49.89% stake in Weetabix East Africa Ltd. for an undisclosed amount. The stake will see Pioneer Foods in partnership with Weetabix UK Ltd.



The acquisition offers Pioneer Foods the opportunity to build a significant breakfast position in the region, by targeting consumption growth of Weetabix, the No. 1 breakfast cereal in the region, which enjoys a significant market share. The breakfast product portfolio will be expanded over time. Weetabix East Africa also exports to neighbouring countries.



The business enjoys attractive levels of profitability, and will provide a platform to introduce a wider Pioneer Foods basket of products, given an established and well developed route to market in various East African countries.



The transaction is subject to Kenyan regulatory approvals.
01-Nov-2016
(Official Notice)
Shareholders are hereby advised that Ms Lindiwe Mthimunye Bakoro has been appointed as an independent non-executive director to the board of Pioneer Food Group Limited with immediate effect.
25-Oct-2016
(Official Notice)
The following disclosure is made in accordance with Section 3.4 (b) of the Listings Requirements of the JSE Ltd. Pioneer advised that for the year ended 30 September 2016, a reasonable degree of certainty exists that:

- Headline earnings per share is expected to be between 865 cents and 931 cents, or between 30% and 40% higher than the 665 cents reported for the comparative period;

- Attributable earnings per share is expected to be between 870 cents and 932 cents, or between 42% and 52% higher than the 613 cents reported for the comparative period;

- Headline earnings per share from continuing operations on an adjusted basis (Note 1) is expected to be between 840 cents and 906 cents, or between 1% and 9% higher than the 832 cents reported for the comparative period; and

- Earnings per share from continuing operations on an adjusted basis (Notes 1 and 2) is expected to be between 864 cents and 931 cents, or between 4% and 12% higher than the 831 cents reported for the comparative period.



Trading update

Pioneer is set to deliver credible financial results for the year to 30 September 2016 underpinned by the competitive attributes and resilience of the brand portfolio. Notwithstanding significant external discontinuities, revenue increased by between 9% and 11% and by between 11% and 13% excluding Pepsi, biscuits and Maitland Vinegar.



The business had to contend with the severe impact of the drought on maize and other crops, exponential increase in the wheat import duty, rand volatility and resultant cost push in a weak consumer environment. Export revenue into the rest of Africa came under pressure amidst severe currency devaluation to the ZAR, and the deterioration of in-country consumer spending power as a consequence. The combined strength of the Group?s brand portfolio and a sustained focus on cost management and extraction of efficiencies, assisted in mitigating the full effect of the aforementioned vagaries.



Essential Foods managed to improve its full year performance relative to the half year, whilst the Groceries and International Divisions delivered a commendable performance. Pioneer is due to release its annual results for the year ended 30 September 2016 on or about 21 November 2016.
13-Oct-2016
(Official Notice)
Pioneer refers to the Companies and Intellectual Property Commission (?CIPC?) announcement published in the media on 11 October 2016 that implicates Pioneer Foods and others in under-disclosing certain turnover values in its annual return submissions to the CIPC.



Pioneer confirmed and state the following:

1) The amount due to the CIPC was R3000 together with penalties of R1000. The payment process was already initiated on 28 September 2016;

2) Pioneer has been engaging the CIPC since receipt of the initial communication from them in August 2016.



Pioneer is committed to complying with all relevant Companies Act statutory obligations.
03-Oct-2016
(Official Notice)
Shareholders are advised that Ms Cindy Hess has resigned as Chief Financial Officer (?CFO?) and director of Pioneer Foods, effective 31 October 2016. Cas Lamprecht, a senior financial executive in the group will assume the role of Acting CFO until a suitable replacement has been appointed.
01-Aug-2016
(Official Notice)
Shareholders are hereby advised that the company has entered into an agreement to acquire the entire issued share capital of Streamfoods Holdings Ltd. for a purchase consideration of GBP7.5 million (?Acquisition?). Streamfoods Holdings Ltd. is wholly owned by the Wellness Group of Companies.



The Acquisition is in keeping with the stated strategic intent of acquiring and bolstering Pioneer Foods? product range in the UK with branded options. The Acquisition will augment and leverage the company?s UK private label portfolio and its recently upgraded manufacturing capabilities. Furthermore, Streamfoods also exports their core brand Fruit Bowl, to China and Europe.



Pioneer Foods has extensive competence in the fruit snacking category, which bodes well for the development of the category and its brand position.
12-Jul-2016
(Official Notice)
Shareholders are advised of the resignation of Mr LP Retief as an independent non-executive director of the company, for health reasons, with effect from 12 July 2016.

23-May-2016
(C)
Revenue for the interim period rose to R10 billion (2015: R9.4 billion). Gross profit increased to R3.1 billion (2015: R3 billion), operating profit grew to R1.4 billion (2015: R916.9 million), and profit for the period attributable to owners of the parent from continuing operations increased to R1 billion (2015: R580.3 million). Furthermore, headline earnings per share rose to 556.4cps (2015: 340.8cps).



Dividend

A gross interim dividend for the six months ended 31 March 2016 of 105cps (2015: 95cps), an increase of 11%, has been approved and declared by the Board from income reserves.



Outlook

The external environment is likely to remain difficult for the near future. That said, Pioneer Foods has a high degree of strategic coherence and the ability to execute and compete effectively. There is sufficient scope to enhance efficiencies and curtail costs across the value chain. These will be deployed as a key enabler of revenue growth in a constrained market. Capital projects geared for growth and a strong balance sheet bode well for a sustainable performance.
19-Apr-2016
(Official Notice)
As at 31 March 2016, a gain of R143 million resulting from the cash-settled Phase 1 (2006) B-BBEE transaction (?Phase I B-BBEE?), which is accounted for in terms of IFRS 2, will be recognised by Pioneer Foods as a result of the decrease in the Pioneer Foods share price from R195.76 at 30 September 2015 to R139.04 at 31 March 2016. Conversely, the comparative six month results recognised a Phase I B-BBEE charge of R203 million as a result of the increase in the Pioneer Foods share price from R118.00 at 30 September 2014 to R177.85 at 31 March 2015.



The following disclosure is made:

*Headline earnings per share is expected to be between 549.0 cents and 566.2 cents, or between 61.1% and 66.1% higher than the 340.8 cents reported for the comparative period; and

*Attributable earnings per share is expected to be between 552.7 cents and 569.9 cents, or between 86.8% and 92.6% higher than the 295.9 cents reported for the comparative period.



The following disclosure is made on an adjusted basis for the six months ended 31 March 2016:

*Headline earnings per share from continuing operations on an adjusted basis (Note 1) is expected to be between 471.9 cents and 489.2 cents, or between 4.6% and 8.4% higher than the 451.2 cents reported for the comparative period; and

*Earnings per share from continuing operations on an adjusted basis (Note 1 and 2) is expected to be between 485.4 cents and 502.6 cents, or between 7.1% and 10.9% higher than the 453.2 cents reported for the comparative period.



Notes:

1. Adjusted for the IFRS 2 share-based payment gain/charge relating to the Phase 1 (2006) B- BBEE transaction.

2. Adjusted for the impairment loss recognised on Quantum Foods shares held by the consolidated B-BBEE SPV participants (Phase 2 (2012) B-BBEE transaction) due to the 6 October 2014 unbundling of Quantum Foods.



The financial information, on which this earnings guidance is based, has not been reviewed or reported on by the group?s external auditors.



The results for the six months ended 31 March 2016 is expected to be released on or about 23 May 2016.



12-Feb-2016
(Official Notice)
Shareholders are hereby advised that at the annual general meeting of the Company held on 12 February 2016 at Lanzerac Hotel - Spa, Stellenbosch, Western Cape (?AGM?), all of the resolutions were passed by the requisite majority of the Pioneer Foods shareholders, with the exception of ordinary resolution number 5 (Re-election of Matthys Michielse du Toit) and ordinary resolution number 9 (Re-appointment of Mr Andile Hesperus Sangqu as a member of the Audit Committee), which were withdrawn prior to the AGM.



Pioneer Foods hereby advises that Mr Matthys Michielse du Toit (?Mr du Toit?) has decided not to make himself available for re-election and will be stepping down from the board of directors (?Board?) with effect from 12 February 2016.

12-Feb-2016
(Official Notice)
22-Dec-2015
(Official Notice)
26-Nov-2015
(Official Notice)
24-Nov-2015
(C)
Revenue for the year increased to R18.7 billion (2014: R17.7 billion). Gross profit rose to R6 billion (2014: R5.4 billion), operating profit was higher at R1.8 billion (2014: R1.4 billion), while profit for the year attributable to owners of the parent from continuing operations grew to R1.2 billion (2014: R947 million). Furthermore, headline earnings per share came in at 665.3 cents per share (2014: 575.6 cents per share).



Dividend

A gross final dividend of 237 cents (2014: 156 cents) per share has been approved and declared by the Board for the year ended 30 September 2015 from income reserves.



Prospects

Pioneer is pleased with the quality of earnings and the strategic progress achieved to date. The low growth and competitive environment, exacerbated by cost push due to rand weakness and drought conditions, will place significant pressure on volumes and margins. Pioneer will continue to optimise its position amidst these challenges.
20-Nov-2015
(Official Notice)
Pioneer Foods hereby advises shareholders of the following appointments to the board of directors (board) with immediate effect:

*Mr Sango Ntsaluba has been appointed as an independent non-executive director to the Board. Mr Ntsaluba is the founding chief executive officer and executive chairman of Amabubesi Investments. He currently serves as a director on the boards of Barloworld, National Housing Finance Corporation, Basil Read and Ubank. Mr Ntsaluba holds a BCompt (Hons) degree from the University of South Africa and is a qualified Chartered Accountant (South Africa);

*Mr Norman Thomson has been appointed as an independent non-executive director to the Board. Mr Thomson served as group finance director of Woolworths from 2001 until 2013. He currently serves as a director on the boards of Country Road in Australia and is chairman of the Woolworths group subsidiaries in Kenya, Tanzania, Uganda, Nigeria and Zambia. Mr Thomson holds a BCom degree from Rhodes University and is a qualified Chartered Accountant (South Africa); and

*Mr Piet Mouton has been appointed as a non-executive director to the Board. Mr Mouton is the chief executive officer of PSG Group. He currently serves as a director on the boards of various PSG group companies, including Curro Holdings, PSG Konsult, Zeder Investments and Capitec Bank. Mr Mouton holds a B.Com (Maths) degree from the University of Stellenbosch.
09-Nov-2015
(Official Notice)
Shareholders are referred to the SENS announcement dated 23 April 2015, whereby shareholders were advised that Pioneer Foods entered into an agreement to acquire a 50% shareholding in FUTURELIFE Health Products (Pty) Ltd (?FUTURELIFE Transaction?).



Pioneer Foods advise shareholders that the Competition Tribunal of South Africa has approved the FUTURELIFE Transaction, subject to 2 conditions that will have no negative impact themselves on the commercial prospects of the FUTURELIFE business and are acceptable to both parties.

29-Oct-2015
(Official Notice)
04-Sep-2015
(Official Notice)
Pioneer is hosting a site visit on 4 September 2015 at the Shakaskraal Bakery in Stanger, KwaZulu-Natal.



The presentation by management is available for download from www.pioneerfoods.co.za and contains no undisclosed financial information.



Direct enquiries to investorrelations@pioneerfoods.co.za.
28-Aug-2015
(Official Notice)
Shareholders are hereby advised that notwithstanding increased competitive intensity, maize deflation and the exiting of Pepsi and biscuits, the Company has managed to sustain solid top-line growth. Volume and revenue growth for the major categories for the 10 month period ending 31 July 2015 is as follows:

Volume - Revenue

*Bakeries 11% - 15%

*Maize 6% - 1%

*Wheat 1% - 3%

*Rice 9% - 9%

*Breakfast Cereals 10% - 15%

*Local Juices 10% - 13%

*International 3% - 13%



Top-line growth continues to be bolstered by a sustained focus on cost and efficiency initiatives, translating into strong operating leverage. It should be noted however, that the maize margin reduces in the second half as a result of a shift to an inflationary commodity cycle. This has a concomitant effect on the corporate margin. The 2nd half has been characterised by inter alia:

*Significant maize and wheat cost push necessitating staggered price increases;

*Softening of Africa export volumes due to extraneous macro conditions;

*Maintenance of, and increased market shares;

*A recovery in the performance of the Heinz joint venture;

*Sustained performance excellence within Bakeries;

*Successful exit of Biscuits and Pepsi;

*Solid performance from Cereals and the balance of Beverages; and

*An improved international fruit performance.



The Company remains committed to meeting its twin objectives of strengthening brands and expanding margins, whilst embedding the One Pioneer operating model.



In accordance with paragraph 3.4(b)(i) of the Listings Requirements of the JSE, Pioneer Foods will report to shareholders once a reasonable degree of certainty exists should the earnings per share and headline earnings per share for the current reporting period ending 30 September 2015 be expected to differ by at least 20% when compared to the prior comparable reporting period.



The financial information, on which this trading update is based, has not been reviewed or reported on by the Group's external auditors.
18-May-2015
(C)
Revenue for the interim period rose to R9.4 billion (2014: R8.8 billion). Gross profit increased to R3 billion (2014: R2.7 billion), operating profit grew to R916.9 million (2014: R903.7 million), but profit for the period attributable to owners of the parent from continuing operations decreased to R580.3 million (2014: R643.4 million). Furthermore, headline earnings per share lowered to 340.8cps (2014: 379.6cps).



Dividend

The Board approved and declared a gross interim dividend of 95cps (2014: gross interim dividend of 65cps and 2014: gross final dividend of 156cps). This will amount to approximately R210 603 600 (2014: interim of R143 601 201 and 2014: final of R345 100 897) depending on the exact number of ordinary shares issued at the record date. In addition, the 10 745 350 (2014 interim: 10 599 988 and 2014 final: 10 683 570) Pioneer Foods shares issued to the Pioneer Foods Broad-based BEE Trust, will receive 20% of the dividend payable, i.e. 19cps (2014: gross interim dividend of 13cps and 2014: gross final dividend of 31.2cps), amounting to R2 041 616 (2014: interim of R1 377 998 and 2014: final of R3 333 274).



Outlook

Pioneer Foods' prospects remain good. Overall, the company is pleased with the quality of earnings and the ability to extract further value through the relentless execution of the strategy. The environment, however, is likely to be characterised by ongoing muted consumer spending, costly energy disruptions, sustained exchange rate volatility and significant competition.
23-Apr-2015
(Official Notice)
Shareholders are hereby advised that Pioneer Foods has entered into an agreement to acquire a 50% shareholding in FUTURELIFE Health Products (Pty) Ltd, a scientifically formulated nutrient-dense functional food products company, for an undisclosed purchase consideration.



The transaction allows Pioneer Foods, which houses well-known brands such as Weet-Bix, Bokomo, Liqui-Fruit, Sasko and White Star, to complement its existing product portfolio with the addition of one of South Africa?s fastest growing health brands within the functional foods category, in which Pioneer Foods is not currently represented. The joint venture provides an opportunity for both companies to combine their expertise in both the food and beverage, and functional foods sectors in order to explore profitable categories outside of their respective traditional markets, and to unlock new product opportunities that may otherwise not be accessible to either company.



The transaction is subject to a number of conditions precedent, which are standard for a transaction of this nature, including Competition Commission approval. Paul Saad, Founder and CEO of FUTURELIFE, will lead and manage the joint venture.

20-Apr-2015
(Official Notice)
03-Mar-2015
(Official Notice)
13-Feb-2015
(Official Notice)
Shareholders are hereby advised that at the annual general meeting of the Company held today, 13 February 2015 at Lanzerac Hotel - Spa, Lanzerac Road, Stellenbosch (?AGM?), all of the resolutions were passed by the requisite majority of Pioneer Foods shareholders



Shareholders are referred to the SENS announcement dated 17 December 2013 and are hereby further advised that Mr Leon Cronje (?Leon?) will step down as Group CFO and Financial Director on 1 March 2015 and remain on the Executive Committee of the Company until the end of his contractual period in December 2015, retaining existing other responsibilities.



Shareholders are further advised that Ms Cindy Hess (?Cindy?), who has been the CFO Designate since 1 March 2014, has now been appointed as financial director and Group CFO with effect from 1 March 2015.

13-Feb-2015
(Official Notice)
Shareholders are hereby advised that at the annual general meeting of the company held on 13 February 2015 at Lanzerac Hotel - Spa, Lanzerac Road, Stellenbosch (?AGM?), all of the resolutions were passed by the requisite majority of Pioneer shareholders.



Change to the board of directors

Shareholders are referred to the SENS announcement dated 17 December 2013 and are hereby further advised that Mr Leon Cronje (?Leon?) will step down as Group CEO and Financial Director on 1 March 2015 and remain on the Executive Committee of the company until the end of his contractual period in December 2015, retaining existing other responsibilities.



Shareholders are further advised that Ms Cindy Hess (?Cindy?), who has been the CFO Designate since 1 March 2014, has now been appointed as financial director and Group CFO with effect from 1 March 2015.
13-Feb-2015
(Official Notice)
Shareholders are hereby advised that the trading conditions for the 3 month period ended 31 December 2014 remained challenging within an ever increasing competitive landscape.



Notwithstanding the aforementioned, select categories reflected an uptick in consumer demand. Pioneer Foods managed to increase market share (Source: IRI Aztec 3mm Dec) in most categories it competes in.



Of significance is price deflation in a few categories, most notably maize, which as a consequence has constrained revenue growth. Group revenue for the three months was up 7%. Volume growth realised in major categories was pleasing, with the exception of the wheat and rice categories. The international business achieved fair beverage volume growth in Africa and positive leverage, however, the dried fruit performance was somewhat constrained due to competitive global pricing.



Positive operating leverage was generated given sustained progress with cost and efficiency improvements, notwithstanding the disruptive and costly impact of Eskom power supply volatility.



Pioneer Foods expects to report an improved adjusted operating profit and adjusted headline earnings performance for the six months ending 31 March 2015 (both adjusted for the impact of the Phase 1 B-BBEE deal on the back of the share price movement). Once sufficient certainty exists, a further update with an indicative range will be provided to the extent necessary.



Shareholders are advised that a short presentation delivered by the CEO at today?s Annual General Meeting, 13 February 2015, is available on the company?s website www.pioneerfoods.co.za.
19-Dec-2014
(Official Notice)
Shareholders are advised that the Company?s 2014 summary condensed audited annual financial statements of the Company for the year ended 30 September 2014 and incorporating the notice of annual general meeting ("AGM") ("Abridged Report"), has been posted to shareholders today, 19 December 2014, and contains no modifications to the audited results which were announced on SENS on Monday, 24 November 2014.



The Abridged Report, incorporating a form of proxy is available for download on the Company?s website at www.pioneerfoods.co.za or can be mailed to shareholders on request.



AGM notice

Notice was given that the AGM of Pioneer will be held at 09h00 on Friday, 13 February 2015, at Lanzerac Hotel - Spa, Lanzerac Road, Stellenbosch, 7600 to transact the business as set out in the notice of AGM contained in the Abridged Report. The date on which shareholders must be recorded as such in the share register to be eligible to attend and vote at the AGM is Friday, 6 February 2015, with the last day to trade being Friday, 30 January 2015.



Acquisition of shares

In accordance with section 122(3)(b) of the South African Companies Act, No. 71 of 2008, as amended, and section 3.83(b) of the JSE Ltd. Listings Requirements, shareholders are hereby advised that the Company received a formal notification in the prescribed form dated 11 September 2014 that the Public Investment Corporation ("PIC") had acquired an interest in the ordinary shares of the Company such that the total interest held by the PIC amounted to 10.17% of the total issued ordinary share capital of the Company.
24-Nov-2014
(C)
Revenue increased to R17.7 billion (R16.2 billion). Gross profit rose to R5.4 billion (R4.7 billion) and operating profit was up to R1.4 billion (R1 billion). Furthermore, net attributable profit from continuing operation soared to R947 million (R699 million). In addition, headline earnings per share grew to 575.6cps (389.8cps).



Dividend

A gross final ordinary dividend of 156cps has been declared.



Prospects

Whilst the South African economy remains vulnerable and is unlikely to recover in the short term, Pioneer Foods has been competitively repositioned to defend and grow its brands. The corporate portfolio will continue to be honed in an effort to sharpen the focus, appropriately direct capital allocations and, in so doing, enhance shareholder returns.
06-Nov-2014
(Official Notice)
08-Oct-2014
(Official Notice)
18-Sep-2014
(Official Notice)
05-Sep-2014
(Official Notice)
Shareholders are referred to the SENS announcement of 5 September 2013, wherein shareholders were advised of the intention of Pioneer Foods to unbundle its interest in Quantum Foods Holdings Ltd. ("Quantum Foods") to its shareholders ("Unbundling") and to list Quantum Foods as a separate entity on the JSE ("Listing"). Shareholders are advised that the board of directors of Pioneer has resolved to proceed with the Unbundling and the Listing and that the anticipated date of the Listing will be 6 October 2014.



A detailed declaration announcement containing all the salient dates of the Unbundling and the Listing will be released on SENS in due course. A high level presentation on Quantum Foods is available under the "Investors" section on the Pioneer Foods website at www.pioneerfoods.co.za.
04-Sep-2014
(Official Notice)
Shareholders are hereby advised that the trading environment continues to be reflective of the pedestrian food and beverage category growth rates currently experienced, indicative of significant pressure on the SA consumer.



Whilst the period under review signalled a lowering of soft commodity prices, this has not yet given rise to increased demand and volume growth.



Revenue growth has been sustained at similar levels to the interim results for the six months ended 31 March 2014, notwithstanding deflation in select categories. A continued improved performance from most businesses in the Group, with a solid contribution from the export business and the joint ventures of the Group, has bolstered the Group?s performance. The aforementioned, coupled to a rigorous focus on cost and efficiency management, has translated into a pleasing operating leverage for the Group.



Accordingly, in terms of paragraph 3.4(b)(i) of the Listings Requirements of the JSE Ltd., Pioneer Foods is required to report to shareholders when a reasonable degree of certainty exists that the earnings per share ("EPS") and headline earnings per share ("HEPS") for the current reporting period is expected to differ by at least 20% when compared to the prior comparable reporting period.



In terms of this requirement, Pioneer Foods hereby advises shareholders that EPS, HEPS and adjusted HEPS (pre the mark to market impact of the Phase 1 BEE deal), for the year ending 30 September 2014, are expected to increase by more than 20%, when compared to those for the financial year ended 30 September 2013.



Once sufficient certainty exists, a further update with an indicative range will be provided. The financial information, on which this earnings guidance is based, has not been reviewed or reported on by the Group's external auditors. .
25-Jun-2014
(Official Notice)
Shareholders are hereby advised that Pioneer Foods' head office has changed to the following new address:

Physical address: Glacier Place

1 Sportica Crescent

Tygervalley

7646



Postal address: Glacier Place

1 Sportica Crescent

Tygervalley

7530



Telephone number: 021 974 4000



Fax number: 086 407 0222



A change in the registered address of the company to the above physical address has been registered with the Companies and Intellectual Property Commission.
19-May-2014
(C)
Revenue for the interim period ended 31 March 2014 increased to R8.8 billion (2013: R8.1 billion). Gross profit rose to R2.7 billion (2013: R2.4 billion), operating profit shot up to R903.7 million (2013: R524.3 million), while profit for the period attributable to owners of the parent from continuing operations was R643.4 million (2013: R335.1 million). Furthermore, adjusted headline earnings per share from continuing operations grew to 324.9cps (2013: 229.7cps).



Dividend

A gross interim dividend of 65cps (2013: 46cps), an increase of 41%, has been approved and declared by the Board.



Prospects

Prospects for Pioneer remain good despite strong economic headwinds. A critical focus on market share is fundamental as a key source of growth in a highly combative market environment. Continuing transformation of the organisation's business model is an enabling imperative to sustained profitability and margin expansion. Precision in executing the aforementioned will be a high priority. Margin management within the maize category, cost-push inflation, and the generation of value chain efficiencies are key focal points in the second half of the financial year.
04-Apr-2014
(Official Notice)
Shareholders are advised that a reasonable degree of certainty exists that earnings per share of the Group for the six months to 31 March 2014 is expected to increase by between 80% and 95% and headline earnings per share is expected to increase by between 95% and 110% from the previous corresponding period. To provide a consistent perspective on the operational performance from continuing operations, an adjustment is made for the impact of the Phase 1 (2006) BEE transaction in the respective reporting periods and the treatment of Quantum Foods as a discontinued operation.



Consequently, adjusted earnings per share and adjusted headline earnings per share from continuing operations is expected to increase by between 38% and 52% from the previous corresponding period. Revenue growth from continuing operations for the reporting period is in line with the growth reported for the four months to 31 January 2014 as published on SENS on 14 February 2014.



Earnings growth benefited from value enhancement initiatives and the continued focus on cost reduction and efficiencies. In addition, a strong volume performance from the international business resulted in increased profitability, aided by rand weakness.



The cash settled Phase 1 (2006) B-BEE transaction is accounted for in terms of IFRS 2 and impacted by the relative movement in the Group?s share price and the number of scheme participants. A charge of R65 million was recorded in the corresponding period as a result of the share price increasing from R53.00 to R71.57 in that period. A gain of R48 million was recorded in the current reporting period following the decline in the number of scheme participants and the share price declining from R87.50 to R83.50.



In terms of IFRS 5, Quantum Foods is treated as an asset held for sale and a discontinued operation. Consequently, the net assets of Quantum Foods has to be valued at the lower of the carrying amount or fair value less cost to sell as at the reporting date. An independent valuation resulted in a further impairment of R54 million to the consolidated net asset value of Quantum Foods, reflecting the continuing challenges in the broiler industry.



The aforementioned adjustments do not have any cash flow implications for Pioneer Foods. The interim financial results for the six months ending 31 March 2014 is expected to be announced on or about 19 May 2014.
14-Feb-2014
(Official Notice)
Shareholders are hereby advised that the requisite majority of shareholders approved all of the ordinary and special resolutions tabled at the Company?s annual general meeting held today, 14 February 2014, with the exception of ordinary resolution number 5 and ordinary resolution number 8, which were withdrawn prior to the annual general meeting. For the avoidance of doubt, in terms of ordinary resolution number 3 and ordinary resolution number 4, Mr ASM Karaan and Mr G Pretorius were re- elected as directors of the company.



Pioneer Foods hereby advises that the Board had received Mr Antonie Jacobs? (Antonie) resignation with effect from 13 February 2014 after a long service on the Board of the company and the company's Audit and Risk Committee. He is stepping down to further interests at Zaad Holdings Limited and elsewhere.
14-Feb-2014
(Official Notice)
Shareholders are advised that Group revenue for the four months ended 31 January 2014 has increased by 8.1% (excluding Quantum Foods) and 6.9% including Quantum Foods, respectively, compared to the comparative period in the prior financial year. Overall domestic volumes were flat given muted consumer spending and significant competition in certain categories.



Export volumes, in particular fruit, maintained good momentum. Significant and continued focus on cost reduction and efficiencies has had a positive effect on performance to date. The value enhancement initiatives embarked upon in the prior year are beginning to gain momentum. Earnings at the half year are likely to benefit from the aforementioned and the low performance base of the corresponding period.



The outlook for the remainder of the current financial year is particularly challenging given the inflationary pressures facing consumers at present. This could potentially translate to volume pressure for the Group, compounded by rising input costs and rand weakness. The interim financial results for the six months ending 31 March 2014 are expected to be announced on or about 19 May 2014, with further trading updates to follow as appropriate.
19-Dec-2013
(Official Notice)
Shareholders are hereby advised that the company's 2013 abridged report, containing the condensed audited annual financial statements of the company for the year ended 30 September 2013 and incorporating the notice of annual general meeting, will be posted to shareholders on Monday, 23 December 2013, and contains no modifications to the audited results which were announced on SENS on Monday, 25 November 2013.



The full integrated annual report (containing full financial statements) and the abridged report, incorporating a proxy form will be available as from Monday, 23 December 2013 for download on the company's website at www.pioneerfoods.co.za or can be mailed to shareholders on request. Should you require a printed copy of the integrated annual report, please contact Lynn van Niekerk at Lynn.Vanniekerk@pioneerfoods.co.za or Jay-Ann Jacobs at Jay-ann.Jacobs@pioneerfoods.co.za to request a copy.



Notice of annual general meeting

Notice is hereby given that the annual general meeting of Pioneer Foods will be held at Lemoenkloof Guest House, 396a Main Street, Paarl, on Friday, 14 February 2014, at 09h00 to transact the business as set out in the notice of the annual general meeting contained in the abridged report.



The date on which shareholders must be recorded as such in the share register to be eligible to attend and vote at the annual general meeting is Friday, 7 February 2014, with the last day to trade being Friday, 31 January 2014.
17-Dec-2013
(Official Notice)
PNR Foods announced the appointment of Cindy Hess as CFO designate with effect from 1 March 2014. The current CFO, Leon Cronje, will step down on 1 March 2015 but remain on the Executive Committee of the Company until the end of his contractual period in December 2015, taking on special projects from March 2015 as assigned.
25-Nov-2013
(C)
Revenue increased to R17 billion (R15.5 billion). Gross profit rose to R5 billion (R4.7 billion) and operating profit was up slightly to R1.05 billion (R1.047 billion). However, net attributable profit declined to R496.7 million (R603.6 million). In addition, headline earnings per share grew to 388.8cps (337.0cps).



Dividend

A gross final ordinary dividend of 86cps has been declared.



Outlook

The macro-economic outlook remains bearish in SA and, as a consequence, food and beverage categories will remain under pressure and are likely to yield limited growth in real terms. That said, PNR Foods is undergoing significant internal change in order to adapt its strategy and business model to compete more effectively.
16-Sep-2013
(Official Notice)
Pioneer Foods is providing this voluntary trading update based on the results for the 11 months to 31 August 2013. The Company enters into a closed period today until the publication of the annual results for the period ending 30 September 2013. These results will be announced on or about 25 November 2013. Revenue for the 11 months increased by 10% to R18 billion. The weak consumer environment continued to impact on volume growth, limiting it to an average of 3% across the Group's basket.



At an industry level, wheat consumption for the nine months to July is down by 1.2% and maize slightly up by 0.7%. The weakening of the Rand against the US Dollar has reversed underlying US Dollar based maize and wheat deflation, especially during the latter part of the reporting period. Sasko sales volumes in wheat and bread products remained soft compared to the corresponding period in the prior year while maize, rice and pasta reflect gains. The Thailand rice pledging scheme is still impacting international rice prices.



Bokomo Foods achieved solid volume growth during the period under review, with a significant increase in vine fruit volumes. Breakfast cereal volumes are marginally up indicative of difficult market conditions. Moir?s biscuits sustained double digit volume growth ahead of the market. The Ceres Beverage business sustained the excellent performance of the first half, regaining lost market share profitably. Cost control and enhanced manufacturing efficiencies bodes well for profitability.



Whilst feed volumes in Quantum Foods were stable, price increases offset higher raw material costs. Unprecedented price and volume pressure in the broiler industry continued. Measures to contain operating cost increases and improve efficiencies could not compensate. Sales prices in the egg business increased over the past 2 months as supply and demand dynamics improved and margins consequently strengthened. The Zambia and Uganda businesses continue to increase their contribution to overall performance. The information provided has not been reviewed or reported on by the Group's independent auditors.
05-Sep-2013
(Official Notice)
Shareholders are advised of the intent of the board of directors of the Company ("the Board"), to restructure the Company's interest in Quantum Foods, currently a division of Pioneer ("Quantum Foods") ("the Quantum Foods Restructuring"). Quantum Foods consists of three integrated business units that produce eggs, chicken products, animal feed and commercial laying hens.



It is Pioneer's intention to unbundle its interests in Quantum Foods to its shareholders and subsequently list Quantum Foods as a separate entity on the JSE subject to market conditions and regulatory requirements, or any other acceptable corporate action, within approximately 12 months. Accordingly, Quantum Foods will be treated as an "asset held for sale" at the Company's financial year-end, being 30 September 2013. Shareholders will be kept informed of developments pertaining to the Quantum Foods Restructuring.
05-Sep-2013
(Official Notice)
Shareholders were advised of the intent of the board of directors of the company ("the board"), to restructure the company's interest in Quantum Foods, currently a division of Pioneer ("Quantum Foods") ("the Quantum Foods Restructuring").



Quantum Foods consists of three integrated business units that produce eggs, chicken products, animal feed and commercial laying hens.



It is Pioneer' intention to unbundle its interests in Quantum Foods to its shareholders and subsequently list Quantum Foods as a separate entity on the JSE subject to market conditions and regulatory requirements, or any other acceptable corporate action, within approximately 12 months.



Accordingly, Quantum Foods will be treated as an "asset held for sale" at the company's financial year-end, being 30 September 2013.



Shareholders will be kept informed of developments pertaining to the Quantum Foods Restructuring.
20-May-2013
(C)
Revenue for the interim period increased to R10.2 billion (R9.2 billion). Operating profit rose to R512.8 million (R465.1 million). Profit attributable to owners of the parent jumped to R325.7 million (R233.7 million). Furthermore, headline earnings per share grew to 181.8 cents per share (131.4 cents per share).



Interim dividend

A gross interim dividend of 46 cents (44 cents) per share has been approved and declared by the board.



Outlook

Trading across the group's product categories is expected to be challenging for the rest of the year as consumer spend remains constrained.



The judicious management of price points and margins amid volatile input costs will be key. Resetting the cost base, an optimal operating model and efficiency focus are central to enhancing profitability and competitiveness.
17-May-2013
(Official Notice)
Pioneer advised that Mr Tertius Alwyn Carstens who served as Executive: Sasko as well as a member of the board since March 2007, has stepped down from the board as from 16 May 2013. Tertius will, however, continue to serve as Executive: Sasko.
17-Apr-2013
(Official Notice)
Shareholders are hereby advised that a reasonable degree of certainty exists that Pioneer Foods' earnings and headline earnings per share for the six months to 31 March 2013 will increase by between 36% and 46% from the 130 cents per share and 131 cents per share respectively, reported in the corresponding period in the previous year.



The adjusted performance in earnings and headline earnings per share for the six months to 31 March 2013 is presented below as the current and comparative financial results have been impacted by the IFRS 2 share-based payment (IFRS) charges relating to the Phase I (2006) and Phase II (2012) Broad-Based Black Economic Empowerment (B-BBEE) transactions. Adjusted earnings and adjusted headline earnings per share, excluding the impact of the IFRS charges for the Phase I and Phase II B-BBEE transactions in the current and comparative financial results, are expected to be between 2% lower and 4% higher compared to the 218 cents per share and 219 cents per share respectively, for the corresponding period in the previous year.



The publication of the interim results for the six months to 31 March 2013 is expected to be on or about 20 May 2013. The information provided has not been reviewed or reported on by the Group?s independent external auditors.

22-Feb-2013
(Official Notice)
Pioneer announced the appointment of Phil Roux as Chief Executive Officer with effect from 1 May 2013, or earlier as may be agreed.



Pioneer's current Chief Executive, Andr? Hanekom, will continue to act as Chief Executive until Mr Roux takes up such position and will remain available to the company on a consultancy basis until 31 March 2014.
15-Feb-2013
(Official Notice)
Shareholders were advised that at the company's annual general meeting held today, 15 February 2013, all ordinary resolutions were passed except for ordinary resolution number 4.
15-Feb-2013
(Official Notice)
15-Feb-2013
(Official Notice)
14-Dec-2012
(Official Notice)
Shareholders are hereby advised that the Company?s 2012 abridged annual report, containing the abridged consolidated financial statements of the Company for the year ended 30 September 2012 and incorporating the notice of annual general meeting, was posted to shareholders on 11 December 2012, and contains no modifications to the audited results which were announced on SENS on Monday, 26 November 2012.



The full integrated annual report (containing full financial statements) will be available for download on the Company's website at www.pioneerfoods.co.za or can be mailed to shareholders on request. Should you require a printed copy of the integrated annual report, please contact Lynn van Niekerk at lvanniek@pioneerfoods.co.za or Jay-Ann Jacobs at jjacobs3@pioneerfoods.co.za to request a copy.



Notice is hereby given that the annual general meeting of Pioneer Foods will be held at Lemoenkloof Guest House, 396a Main Street, Paarl, on Friday, 15 February 2013, at 09h00 to transact the business as set out in the notice of the annual general meeting contained in the abridged annual report. The date on which shareholders must be recorded as such in the share register to be eligible to attend and vote at the annual general meeting is Friday, 8 February 2013, with the last day to trade being Friday, 1 February 2013.
14-Dec-2012
(Official Notice)
Shareholders are hereby advised that the company's 2012 abridged annual report, containing the abridged consolidated financial statements of the Company for the year ended 30 September 2012 and incorporating the notice of annual general meeting, was posted to shareholders on 11 December 2012, and contains no modifications to the audited results which were announced on SENS on Monday, 26 November 2012.



The full integrated annual report (containing full financial statements) will be available for download on the Company?s website at www.pioneerfoods.co.za or can be mailed to shareholders on request. Should you require a printed copy of the integrated annual report, please contact Lynn van Niekerk at lvanniek@pioneerfoods.co.za or Jay-Ann Jacobs at jjacobs3@pioneerfoods.co.za to request a copy.



Notice is hereby given that the annual general meeting of Pioneer Foods will be held at Lemoenkloof Guest House, 396a Main Street, Paarl, on Friday, 15 February 2012, at 09h00 to transact the business as set out in the notice of the annual general meeting contained in the abridged annual report. The date on which shareholders must be recorded as such in the share register to be eligible to attend and vote at the annual general meeting is Friday, 8 February 2013, with the last day to trade being Friday, 1 February 2013.
26-Nov-2012
(C)
Revenue jumped to R18.6 billion (R16.9 billion) and gross profit also grew to R5.2 billion (R5.0 billion). Operating profit decreased marginally to R1.0 billion (R1.2 billion). Profit attributable to owners of the parent was lower at R603.6 million (728.8 million). In addition, headline earnings per share fell to 337 cents per share (407 cents per share).



Dividend

A gross final dividend of 70 cents per share (2011: 40 cents per share) has been approved by the board.



Prospects

The group remains affected by the constrained consumer environment and pressure on disposable income. Raw material pricing is volatile and indications are that prices could weaken in the months ahead as supply picks up. Volume growth at acceptable price points will be key together with judicious cost management and dedicated efficiency drives to grow and protect operating margins as new production capacity comes on stream.
05-Nov-2012
(Official Notice)
Shareholders of Pioneer are advised that Mr Gerrit Pretorius, an independent non-executive director on the Pioneer board of directors, has been appointed as lead independent director of Pioneer with immediate effect.
16-Oct-2012
(Official Notice)
Pioneer announced the retirement of Andr? Hanekom ("Andr?") as group managing director with effect from 31 March 2013. Andr? will continue to act as group managing director to 31 March 2013 and be available to the company to 31 March 2014 to ensure a smooth transition.
16-Oct-2012
(Official Notice)
Pioneer Foods provides this trading statement based on the provisional results for the twelve months to 30 September 2012 and further to the trading update published on SENS on 5 September 2012.



Trading in September 2012 has been better than expected in Sasko with advanced notice of increased selling prices from July 2012 onwards contributing to increased sales volumes. In addition Bokomo benefited from growth in the breakfast cereals category and Ceres Beverages from increased selling prices though volumes remained under pressure. Agri prices remained under strain at consistent volumes in feed, eggs and poultry.



Pioneer Foods is reasonably certain that earnings and headline earnings per share for the twelve months to 30 September 2012 will decrease by between 12% and 22% compared to the corresponding period in the previous year.



The results for the twelve months to 30 September 2012 are negatively impacted by the once-off, non-cash flow, share-based payment charge in terms of IFRS 2 ("Phase Two IFRS charge") of R161 million relating to the implementation of the Phase Two Broad Based Black Economic Empowerment Transaction. Adjusted earnings and adjusted headline earnings per share, excluding the Phase Two IFRS charge of R161 million, are expected to increase by between 0% and 10% compared to the corresponding period in the previous year.



The comparative operational performance has also been impacted by the IFRS 2 share based payment charge for the cash settled Phase One ( 2006) BEE scheme ("Phase One IFRS charge"), as a result of the share price movements in the respective reporting periods. In the 2011 reporting period the share price increased from R47.60 to R59.00, resulting in a charge in the income statement of R45 million. In the current reporting period the share price declined from R59.00 to R53.00, resulting in a gain in the income statement of R36 million.



Consequently adjusted earnings and adjusted headline earnings per share, excluding the Phase Two IFRS 2 charge of R161 million in 2012, as well as excluding the impact of the Phase One IFRS charge in both reporting periods, are expected to decrease by between 0% and 10% compared to the corresponding period in the previous year.



The publication of the annual results for the twelve months to 30 September 2012 is expected to be on or about 26 November 2012.
13-Sep-2012
(Official Notice)
Shareholders of the company were advised that Mr. Norman Celliers has been appointed as a non-executive director of the company with effect from 1 October 2012.
05-Sep-2012
(Official Notice)
Shareholders are hereby advised that Pioneer Foods is hosting an analyst site visit today at the TCBC plant in Wadeville, Johannesburg. A copy of the presentation by management will be available for download from www.pioneerfoods.co.za and contains no previously unpublished financial information.
04-Sep-2012
(Official Notice)
21-May-2012
(C)
Revenue increased to R9.2 billion (R8.3 billion). Gross profit rose to R2.7 billion (R2.6 billion). However, net attributable profit declined to R234.7 million (R430.9 million). In addition headline earnings fell to 131.4cps (236.8cps).



Dividend

An gross interim ordinary dividend of 44cps has been declared.



Outlook

Pioneer continues to negotiate shifting consumption patterns, volatile commodity prices and inflationary cost pressures with diligent price and volume management to protect margins without sacrificing quality for the benefit of the consumer. Pioneer's judicious and disciplined investment for future growth in the company's core operations is testimony to our belief that disposable income will increase and consumer spend will normalise over the medium term as the economic environment improves.
26-Apr-2012
(Official Notice)
Shareholders were referred to the company's circular to shareholders dated 19 January 2012 and to the company's subsequent SENS announcements regarding the Pioneer Foods Phase II Broad-Based Black Economic Empowerment transaction ("the transaction"). Shareholders are advised that 10 599 988 Pioneer shares have been issued to the trust pursuant to the transaction and that these shares were listed this morning on the JSE. The trust is a perpetual black economic empowerment trust founded by the company. Accordingly, the transaction has now been fully implemented.
25-Apr-2012
(Official Notice)
Pioneer provides these earnings guidance based on the provisional results for the six months to 31 March 2012 and further to the guidance published on SENS on 16 March 2012 and 15 February 2012. The results are impacted by the once-off, non-cash flow, share-based payment charge in terms of IFRS ("IFRS charge") of R160 million (previously estimated at R154 million) relating to the implementation of the Phase Two Broad Based Black Economic Empowerment Transaction ("the Transaction"). Shareholders are referred to the company's circular to shareholders dated 19 January 2012 and to the company's subsequent SENS announcements regarding the transaction. Consequently earnings and headline earnings per share for the six months to 31 March 2012 are expected to decrease by between 42% and 49% compared to the corresponding period of the previous year. Adjusted earnings and adjusted headline earnings per share, excluding the IFRS charge of R160 million, are expected to decline by between 4% and 12% compared to the corresponding period of the previous year. The publication of the interim results for the six months to 31 March 2012 is expected on or about 21 May 2012.
19-Mar-2012
(Official Notice)
Shareholders are referred to the company's circular to shareholders dated 19 January 2012 ("the Circular") and to the company's subsequent SENS announcements regarding the transaction. Shareholders are advised that the Transaction, insofar as it relates to the specific issue of ordinary shares in the company ("Pioneer Foods Shares") to strategic BEE partners and current and former black directors of the company (collectively, "BEE Investors"), has become unconditional and has been implemented. In this regard, 18 091 661 Pioneer Foods Shares have been issued to the BEE Investors and were listed this morning on the JSE. Implementation of the remainder of the Transaction, relating to the issuing of 10 599 998 Pioneer Foods Shares, to a perpetual BEE trust ("BEE Trust") founded by the company, is currently in progress and it is anticipated that these shares will be issued and listed towards the end of March 2012. An announcement will be made by the company once the relevant Pioneer Foods Shares have been issued to the BEE Trust.
16-Mar-2012
(Official Notice)
The final outstanding conditions precedent for implementing the 13.5% BEE transaction are close to fulfilment and Pioneer Foods anticipates that the 28,7 million additional ordinary shares resulting from the transaction will be issued and listed on the JSE soon. Pioneer Foods will receive net cash of R546 million after the initial contribution for the subscription price from the BEE shareholders and the financiers of the transaction. For the first seven years these newly listed shares will be treated as treasury shares in terms of IFRS accounting principles with a minimal impact on earnings or earnings per share. The exception is the recognition of the once off non cash flow share-based payment charge in terms of IFRS ("IFRS charge"). The impact on earnings in the reporting period is estimated at R154 million. Shareholders are referred to the circular (dated 19 January 2012) for the detail of the transaction.



Impact on earnings

Consequently earnings and headline earnings per share, including the IFRS charge of R154 million, is expected to decrease by between 45% and 55% compared to the corresponding period of the previous year. Adjusted earnings and headline earnings per share, excluding the IFRS charge is expected to decline by between 9% and 19% compared to the corresponding period of the previous year.

16-Mar-2012
(Official Notice)
02-Mar-2012
(Official Notice)
The shareholders of the company adopted a special resolution at the company's annual general meeting held on 17 February 2012, in terms of which they provided the board of directors of the company ("the board") with a general approval (which approval will be in place for a period of two years commencing from the date of the adoption of such special resolution) to authorise the company to provide any direct or indirect financial assistance that the board may deem fit to any related or inter- related company or corporation of the company on the terms and conditions and for the amounts that the directors may determine.



In anticipation of and subject to the Section 45 Shareholders' Resolution being adopted, the board, on 16 February 2012, adopted a resolution authorising the company to provide a loan to Pioneer Foods (Pty) Ltd., an indirect wholly owned subsidiary of the company, in an amount of R293 277 224 ("the Section 45 Board Resolution"). The board is satisfied that;

* immediately after providing such financial assistance the company will satisfy the solvency and liquidity test; and that

* the terms under which such assistance is to be given are fair and reasonable to the company.



The financial assistance to be granted by the company in terms of the Section 45 Board Resolution will exceed one-tenth of one percent of the company's net worth and the company hereby provides notice of the Section 45 Board Resolution to shareholders. The company does not have any employees represented by a trade union.
29-Feb-2012
(Official Notice)
Shareholders are referred to the company's circular to shareholders dated 19 January 2012 ("the circular") regarding the transaction, the transaction having been subsequently approved by the company's shareholders at a general meeting of shareholders on 17 February 2012. Shareholders are further referred to the company's SENS announcement dated 17 February 2012, in which shareholders were advised that certain conditions precedent to the transaction had not yet been fulfilled.



Shareholders are also referred to the important dates and times section of the circular, which anticipated that the Pioneer shares to be issued pursuant to the transaction ("Pioneer Foods Shares"), would be issued on or about Wednesday, 29 February 2012. From a technical perspective, certain conditions precedent to the transaction are still in the process of being fulfilled. Accordingly, the issuing of the Pioneer Foods Shares will not occur on the previously anticipated issue date of 29 February 2012. The company is confident that all remaining conditions precedent will be fulfilled, and the Pioneer Foods Shares will be issued, during March 2012. An announcement will be made by the company once the transaction becomes unconditional.
17-Feb-2012
(Official Notice)
Shareholders are hereby advised that, at the annual general meeting and the general meeting of shareholders of Pioneer Foods to approve the Pioneer Foods phase II broad-based black empowerment transaction held today,17 February 2012, at Lemoenkloof Guest House, 369a Main Street, Paarl, all the proposed ordinary and special resolutions, as contained in the respective notices to shareholders, were passed by the requisite majorities of shareholders present and voting, in person or by proxy. Shareholders are advised that certain conditions precedent to the transaction have not yet been fulfilled. An announcement will be made by the company once the transaction becomes unconditional.
15-Feb-2012
(Official Notice)
Shareholders were advised that Pioneer hosted an analyst site visit on 15 February at the Moir's biscuit plant in Clayville, northeast of Johannesburg. A copy of the presentation by management is available for download from www.pioneerfoods.co.za and contains no previously unpublished financial information.
15-Feb-2012
(Official Notice)
28-Nov-2011
(C)
Revenue for the year ended 30 September 2011 rose to R16.9 billion (R15.7 billion) and gross profit increased marginally to R5 049 million (R5 010.9 million). Operating profit improved to R1 190.5 million (R742.7 million), while total profit for the year attributable to ordinary shareholders grew drastically to R728.8 million (R234.5 million). Furthermore, headline earnings per share strengthened to 407cps (133.5cps).



Dividend

A final ordinary dividend of 40cps has been declared.



Prospects

The group is in a favourable position to participate in profitable volume growth, recognising the constrained consumer spending environment. Continuing inflationary cost pressures and shifting consumer spending patterns will influence the group's financial performance in the new financial year.
09-Nov-2011
(Official Notice)
Shareholders are referred to the SENS announcement dated Tuesday, 20 September 2011. This further trading update announcement is in amplification of the aforementioned announcement. In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as a reasonable degree of certainty exists that its financial results for the next reporting period will differ by 20% or more from that of the previous corresponding reporting period.



Shareholders are advised that a reasonable degree of certainty now exists. As previously disclosed, Pioneer Foods` financial results were negatively affected by R654 million in its previous comparative reporting period for the financial year ended 30 September 2010, in respect of the Competition Commission administrative penalty ("the penalty"). As the penalty is a non-recurring item, this further trading update indicates expected performance for the year ended 30 September 2011 both including and excluding the effect of the penalty in the comparative period.



Update - Comparative results including the penalty

Earnings per share and headline earnings per share for the year 30 September 2011 are expected to increase by between 195% and 215%. Update - Comparative results excluding the penalty Earnings per share and headline earnings per share for the year ended 30 September 2011 are expected to decrease by between 16% and 22%, if comparative figures are adjusted to exclude the impact of the penalty of R654 million. The financial information on which this further trading update is based has not been reviewed and reported on by the company's auditors. The final financial results for the year ended 30 September 2011 are expected to be released on SENS on or about Monday, 28 November 2011.

03-Nov-2011
(Official Notice)
Following the announcement of the proposed B-BEE transaction, shareholders were advised to continue to exercise caution when dealing in the company's securities until a final announcement is made.
03-Nov-2011
(Official Notice)
Shareholders are referred to the cautionary announcement published on 4 August 2011 as well as the renewal of the announcement on 19 September 2011. The company concluded a B-BBEE transaction with its employees in 2006 which effectively equated to 10% black ownership of the company at the time. Pioneer now proposes to increase and broaden the black ownership of the company to include a broad-based Educational and Community Trust, strategic B- BBEE partners and black members of the board of the company ("proposed B-BBEE transaction"). The proposed B-BBEE transaction will be implemented by way of vendor and third party finance, pursuant to which the B-BBEE shareholders will acquire a direct equity interest in the company of approximately 13.5% at market related values. Third party BEE parties will be issued 8.5% and a broad-based Educational and Community Trust approximately 5%. Finalisation of funding is at an advanced stage. Following the implementation of the proposed B-BBEE transaction, the company will have an effective black ownership of more than 18.5% (including the initial Pioneer employees' scheme) as measured in terms of the dti Codes of Good Practice on Broad Based Black Economic Empowerment.
20-Sep-2011
(Official Notice)
As disclosed previously, Pioneer's financial results were negatively affected by R654 million in its previous comparative reporting period for the financial year ended 30 September 2010, in respect of the Competition Commission administrative penalty ("the penalty"). As the penalty is a non-recurring item, this trading update indicates expected performance for the full year ended 30 September 2011 both including and excluding the effect of the penalty in the comparative period.



Comparative results including the penalty

Earnings per share and headline earnings per share for the 12 month period ended 30 September 2011 are expected to increase by more than 165%.



Comparative results excluding the penalty

Earnings per share and headline earnings per share for the 12 month period ended 30 September 2011 are expected to decrease by between 20% and 30%, if comparative figures are adjusted to exclude the impact of the penalty of R654 million. Shareholders are further advised that the volatile economic climate currently experienced has contributed to tough trading conditions for the company, especially in the last few months. Pioneer Foods will revert to shareholders with a further trading update (incorporating the effect of the non-recurring items in the comparative period), once more certainty exists with regards to the financial results for the year ended 30 September 2011.
19-Sep-2011
(Official Notice)
Shareholders were referred to the cautionary announcement released on 4 August 2011 wherein shareholders were advised that Pioneer have entered into discussions, which if successfully concluded, may have a material effect on the price of the company's securities. Shareholders are accordingly advised to continue to exercise caution when dealing in the company's securities until a full announcement is made.
04-Aug-2011
(Official Notice)
Shareholders are advised that Pioneer has entered into discussions, which if successfully concluded, may have a material effect on the price of the company's securities. Accordingly, shareholders are advised to exercise caution when dealing in the company's securities until a full announcement is made.
21-Jul-2011
(Official Notice)
Shareholders are referred to the SENS announcement dated 27 June 2011 whereby Mr. Petrus Jacobus Stofberg was appointed as acting company secretary of Pioneer Foods, and shareholders were advised that Ms. Jay-Ann Jacobs has been appointed as the new company secretary with effect from 1 August 2011.
27-Jun-2011
(Official Notice)
Shareholders were advised that Mr. Theo Hendrickse, company secretary of Pioneer Foods, has sadly passed away on Sunday, 26 June 2011 and that Mr. Petrus Jacobus Stofberg has been appointed as the acting company secretary with immediate effect.
23-May-2011
(C)
Revenue increased to R8.3 billion (R8 billion) and gross profit was stable at around R2.6 billion (R2.6 billion). Operating profit improved to R666.5 million (R440.6 million), while profit for the period attributable to ordinary shareholders of the company more than doubled to R430.1 million (R155 million). Moreover, headline earnings on a per share basis almost tripled to 236.8cps (81.7cps).



Dividend

An interim dividend of 40.0cps has been approved by the board.



Prospects

The financial performance of the group for the full year will be influenced by the group's ability to manage margins in a challenging operating environment with volatile input costs trending upwards and uncertain consumer spending patterns.
21-Apr-2011
(Official Notice)
Shareholders are advised that a reasonable degree of certainty now exists. As a result of the R350 million provision made by Pioneer Foods in respect of the Competition Commission administrative penalty in its comparative interim period ended 31 March 2010, earnings per share and headline earnings per share for the six month period ended 31 March 2011 are expected to increase by between 160% and 180%, and by between 175% and 195%, respectively. Shareholders are further advised that if the provision for the administrative penalty in the comparative period is not taken into account, a decrease of between 14% and 20% could have been expected in earnings per share and in headline earnings per share for the six month period ended 31 March 2011, from the previous corresponding period.
30-Mar-2011
(Official Notice)
Shareholders are hereby advised that Pioneer Foods provided in its previous comparable interim period for the six months ended 31 March 2010, an amount of R350 million in respect of the Competition Commission administrative penalty. The final results for the six month period ended 31 March 2011 are not yet known, but will differ from the previous comparable interim period as a result of the R350 million provision. For the avoidance of doubt a provision of a similar extend is not foreseen for the six month period ended 31 March 2011. Pioneer Foods will revert to shareholders with a further trading update (to quantify the change as a result of the aforesaid non-provision) once certainty exists in regards to the final financial results for the six month period ended 31 March 2011.

23-Feb-2011
(Official Notice)
Shareholders were advised that, in amplification of the results of the annual general meeting SENS announcement dated Friday, 18 February 2011, the following directors were re -elected to the board of Pioneer Foods at the company's annual general meeting held on Friday, 18 February 2011:

* ZL Combi;

* MM du Toit;

* GD Eksteen;

* AE Jacobs;

* ASM Karaan; and

* NS Mjoli-Mncube.
18-Feb-2011
(Official Notice)
Shareholders were advised that the requisite majority of shareholders approved all of the ordinary resolutions tabled at the company's annual general meeting held on 18 February 2011.
18-Feb-2011
(Official Notice)
At the 14th annual general meeting of shareholders it was announced that revenue for the four months to January 2011 increased by 2.3% to R5.5 billion over the corresponding period as sales volumes in all business units increased by some 5% in the group's average product basket, with price inflation moderating to neutral values in most categories, principally due to the strong rand in the second half of last year and improving cost efficiencies. Operating expenditure such as fuel, electricity and payroll expenses however continue to place upward pressure on costs with grain commodities such as wheat and yellow maize increasing by more than 20% in rand terms in the current financial year alone.



The unusual weather patterns are a point of concern. The production of wheat and yellow maize in particular has been impacted by the abnormally high summer rainfall and the raisin crop is expected to be substantially lower this year due to the flooding experienced in the Orange River basin. Consequently inflationary pressure in our product basket is expected to increase again as the supply of key commodities remain under pressure in these volatile production environments, leading to anticipated increases in food prices in months to come.
02-Feb-2011
(Official Notice)
Pioneer Foods and KWV Shareholders ("Shareholders") are referred to the previous joint announcement from Pioneer Foods and KWV (the "Parties") which was published on the Securities Exchange News Services ("SENS") of the JSE Limited ("JSE") on 13 December 2010 and in the press on 14 December 2010. In the joint announcement, Shareholders were advised that Pioneer Foods had proposed a scheme of arrangement in terms of section 311 of the Companies Act, 61 of 1973, as amended, between KWV and its shareholders which, if implemented, would result in Pioneer Foods acquiring the entire issued share capital of KWV in consideration for the settlement of the scheme consideration of R12 (twelve rand) per share to the scheme participants, subject to a downward adjustment as previously stated (the "Scheme").



Following discussions with KWV shareholders, KWV has received confirmation from certain significant shareholders that due to the offer price and possible adjustment thereof, they will not support the proposed Scheme. Consequently, the Parties have concluded that there will not be sufficient support to pass the requisite resolution to approve the proposed Scheme at the scheme meeting. The Parties have therefore agreed to terminate the scheme process, and therefore the Pioneer Foods offer is withdrawn. KWV is accordingly no longer in an offer period as defined in the Securities Regulation Code on Takeovers and Mergers.

04 Jan 2011 10:57:44
(Official Notice)
Shareholders are advised that the company's 2010 annual report, containing the audited annual financial statements for the year ended 30 September 2010, was posted to shareholders on Tuesday, 28 December 2010, and contains no modifications to the audited results which were announced on SENS on Monday, 06 December 2010. Notice is hereby given that the annual general meeting of Pioneer Foods will be held at Lemoenkloof Guest House, Paarl on Friday, 18 February 2011, at 09h00 to transact the business as set out in the notice of the annual general meeting contained in the annual report.
21 Dec 2010 14:21:11
(Official Notice)
PSG Capital (Pty) Ltd is authorised to announce that following the confirmation of the settlement agreement by the competition tribunal on 30 November 2010, appropriate action has been taken by the board of Pioneer Foods to discipline management responsible for the transgressions of the Competition Act 89 of 1998. Disciplinary action was taken against 41 (forty one) employees, of which 1 (one) was found not guilty by an external independent presiding officer, 38 (thirty eight) admitted to guilt and received written warnings, while action against 2 (two) employees is still in process.



In addition to the above, executive management did not receive any incentive bonuses for the year, executive directors did not receive any increases for 2011 and the majority of the executive management team were not allocated new share appreciation rights for 2011. Pioneer Foods has strengthened its governance and compliance protocols, appointed a compliance and risk officer, approved a revised code of ethics and implemented on-line compliance training to approximately 1 900 (one thousand nine hundred) relevant employees.

13 Dec 2010 09:37:10
(Official Notice)
07 Dec 2010 08:32:02
(Media Comment)
According to Business Report, the exceptionally strong performance of Pioneer Foods' share price in the three years since it listed will more than compensate for any financial penalty imposed on senior management as a result of the group's contravention of the Competition Act. The release of strong results helped to underpin the strong upward trend of the share.
06 Dec 2010 09:22:03
(C)
Revenue for the year ended September 2010 decreased to R15.7 billion (2009: R16.3 billion). Gross profit increased to R5 billion (2009: R4.6 billion), but operating profit fell to R742.7 million (2009: R1.1 billion), and profit for the year attributable to owners of the parent weakened to R234.5 million (2009: R560.5 million). Furthermore, headline earnings per share lowered to 133.5cps (2009: 355.4cps).



Dividend

Given the board's prudent approach to capital management no final or interim dividend was declared (2009 total dividend: 125 cents per share). In doing so the board acted responsibly in ensuring that none of the covenants governing dividend payments as imposed by the group's syndicated loan facility could potentially be breached. Given the certainty regarding the payments remaining in terms of the CC settlement, future dividend payments can and will be considered at the appropriate time.



Prospects

Performance for the new year is expected to be influenced by:

* the gradual upward trend in raw material prices,

* cost increase above inflation, e.g. salaries and wages, electricity and transport,

* sustainability of sales volumes given shifting consumer spending patterns and

* inflationary pressures on selling prices.

Though the continuing growth of Sasko remains key to the group's future performance, the other three business segments all have the potential for further positive turnarounds in a number of their focus areas which are expected to provide growing profit contributions in time. A largely sustained earnings performance is expected in the current financial year.
01 Dec 2010 08:56:51
(Official Notice)
25 Nov 2010 08:45:35
(Media Comment)
Business Report noted that Pioneer is expected to make a formal bid for the unlisted drinks group KWV, on Friday, 26 November 2010. Speculation abounds that the offer price will be R12.00/share. Pioneer has declined to comment. A merger would create a business with annual earnings greater than R600 million and annual turnover of R18 billion.
12 Nov 2010 15:52:36
(Official Notice)
Shareholders are referred to the SENS announcement dated 2 November 2010, in regards to the finalisation of the settlement of the Bread, Milling and other matters with the Competition Commission. Same contained an update in respect of the effect of the penalty as well as the general business performance to date. The estimate was unaudited and based on initial calculations. The annual audit of Pioneer Foods for the financial year ended 30 September 2010 is however reaching completion and more certainty exist and therefore a further trading update is required. In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that its financial results for the next reporting period will differ by 20% or more from those of the previous corresponding reporting period.



The company confirms that this trading update will replace the one made on 2 November 2010. Based on the settlement agreement, the effect on earnings will only partially be expensed in the 2010 financial year by way of an increased provision of R304 million, taking into account the original provision of R350 million and the subsequent payment of the R196 million penalty in the bread matter. The balance will be expensed in the 2011 financial year. Therefore a decrease of between 55% and 62% is expected in earnings per share and a decrease of between 59% and 66% in headline earnings per share for the 12 months ending 30 September 2010, from the previous corresponding period. Shareholders are further advised that if the provisions and the administrative penalty in the Bread matter (which has already been paid) are not taken into account, an increase of between 53% and 60% could have been expected in earnings per share and an increase of between 38% and 45% in headline earnings per share for the 12 months ending 30 September 2010, from the previous corresponding period. The financial information on which this trading statement is based has not been reviewed and reported on by the company's auditors.



02 Nov 2010 14:59:03
(Official Notice)
02 Nov 2010 14:36:09
(Official Notice)
29 Oct 2010 17:12:19
(Official Notice)
Shareholders of Pioneer Foods and KWV Holdings were referred to their respective recent cautionary announcements dated 30 September 2010 and 13 October 2010. Accordingly, shareholders of Pioneer Foods and KWV Holdings were advised that Pioneer Foods has approached KWV Holdings with the view to possibly acquire KWV Holdings or concluding a similar transaction. There can be no certainty that these discussions will lead to a transaction. If successfully concluded, the proposed transaction may have a material effect on the Pioneer Foods and KWV Holdings share prices. Shareholders of Pioneer Foods and KWV Holdings were advised to continue to exercise caution when dealing in their shares until a further announcement is made. Pioneer Foods and KWV Holdings will revert to shareholders on further progress in this respect once more certainty exists.
19 Oct 2010 11:55:08
(Official Notice)
Mr Antonie Jacobs ("Antonie") has been appointed as a non-executive director to the board of Pioneer and as member of the audit committee of Pioneer with immediate effect.
30 Sep 2010 16:01:37
(Official Notice)
Shareholders were referred to the cautionary announcement dated 18 August 2010 and the subsequent update to shareholders announcement in respect of the Competition Commission matters ("CC Matter") dated 21 September 2010. Shareholders are advised to continue to exercise caution when dealing in their Pioneer shares until a further announcement is made. Pioneer is also considering transactions and/or is in discussions with various parties which may have a material effect on the price of the company's securities. Pioneer will revert to shareholders on further progress in respect of the CC matter and other matters once more certainty exists.
21 Sep 2010 11:35:25
(Official Notice)
Shareholders have been advised over the past several months that Pioneer Foods and the Competition Commission ("the Commission") (collectively referred to as "the parties") are engaged in ongoing negotiations to settle the Bread, Milling and other matters, including the Commission's Appeal against the ruling of the Competition Tribunal in the Bread matter and the Cross Appeal of Pioneer Foods in the same matter (as referred to in the SENS announcements dated between 3 February 2010 and 18 August 2010)("the settlement").



Good progress has been made in this regard, although all the terms and conditions of the settlement including the financial terms have not yet been finalised. Given the discussions to date, indications are that the settlement amount will exceed the provision previously made by Pioneer Foods. In light of the aforesaid progress, the parties this morning approached the Competition Appeal Court and withdrew the Appeal and Cross Appeal in the Bread matter. Pioneer Foods will revert to shareholders in due course once the settlement is finalised. Pioneer Foods believes that the settlement may be finalised within the next few weeks. Shareholders are referred to the cautionary announcement dated 18 August 2010 and are advised to continue to exercise caution when dealing in their Pioneer Foods shares until a further announcement is made.

18 Aug 2010 09:06:30
(Official Notice)
Shareholders were referred to the cautionary announcement dated 6 July 2010 and were advised to continue to exercise caution when dealing in their Pioneer Foods shares until a further announcement was made. Pioneer Foods will revert to shareholders on further progress in respect of this and other matters once more certainty exists.
06 Jul 2010 11:50:57
(Official Notice)
Shareholders are referred to the cautionary announcement dated 24 May 2010 and are advised to continue to exercise caution when dealing in their Pioneer Foods shares until a further announcement is made. Pioneer Foods will revert to shareholders on further progress in respect of this and other matters once more certainty exists.
24 May 2010 08:37:09
(C)
08 Apr 2010 15:52:45
(Official Notice)
Shareholders were advised that Pioneer Foods has made a provision for a potential administrative penalty from the wheaten and white maize flour milling complaint referrals received from the Competition Commission in which Pioneer Foods and other industry participants are named as respondents. The provision of R154 million, applies a rate of 8.5% on the 2006 affected revenue from the selling of wheaten and white maize flour of R1 821.6 million for that year. In doing so the company has followed approximately the same approach as the Competition Tribunal in determining the penalty in the bread matter, although the Competition Commission still maintains that they wish to impose a 10% administrative penalty on the 2009 group revenue. The final amount therefore still needs to be determined.



This provision is in addition to the R196 million provision raised by the company from the bread complaint referral, following the ruling of the Competition Tribunal on February 3rd. The Competition Commission has taken this ruling on appeal to the Competitions appeal court. Pioneer Foods has opposed the appeal and lodged a cross-appeal as indicated before. This amount may therefore increase or decrease as previously indicated. Pioneer Foods wants to resolve the milling and other matters before the Competition Commission through co-operation with the Commission, and without recourse to proceedings currently before the Competition Tribunal, if possible. As a result of the additional provision of R154 million that is raised plus the previous provision of R196 million that was raised (total amount of R350 million), earnings per share and headline earnings per share for the six months ending 31 March 2010, is expected to decrease by between 50% and 70% from the previous corresponding period.



Shareholders were further advised that should none of the abovementioned provisions be taken into account, an increase of between 45% and 65% is expected in earnings and headline earnings per share for the six months ending 31 March 2010, over the previous corresponding period.



Cautionary

Shareholders were further referred to the cautionary announcement dated 16 March 2010 and are advised to continue to exercise caution when dealing in their Pioneer Foods shares until a further announcement is made. Pioneer Foods will revert to shareholders on further progress in respect of this and other matters once more certainty exists.
01 Apr 2010 15:50:20
(Official Notice)
Pioneer referred to the SENS announcement dated 16 March 2010, which referred to the Competition Commission ("the Commission") referral issued for the wheat milling market and hereby advise that this announcement refers mainly to the Commission's referral issued for the white maize milling market as set out below. Further to the above, Pioneer has now received notification, as anticipated, from the Commission that it has referred its investigation into the white maize milling market ("maize milling matter"), to the Competition Tribunal for adjudication. Pioneer Foods is named as a respondent in the case together with other industry participants.



The Commission has recommended an administrative penalty of R1.6 billion or 10% of the 2009 annual group revenue of Pioneer, although the referral refers to conduct up to the 2007 financial year, with respect to the company's alleged transgressions of the Competition Act in the white maize milling market. As mentioned before, the company wants to resolve the milling matters and other matters through cooperation with the Commission, and without recourse to proceedings before the Competition Tribunal, if possible. The company has already met the Commission in this regard. The administrative penalty sought by the Commission in the milling matters may be adjusted lower depending on the outcome of continuing negotiations with the Commission. The company is committed to fully cooperate with the Commission in all investigations where the Commission seeks its assistance.



The company is however, of the opinion, that the 2009 annual group revenue used by the Commission in determining the administrative penalty is not the appropriate revenue basis, but that the affected revenue should be used given the Competition Tribunal's judgement in the bread matter as well as the fact that the alleged activities did not take place after 2007.



Shareholders are further referred to the cautionary announcement dated 16 March 2010 and are advised to continue to exercise caution when dealing in their Pioneer shares until a further announcement is made. Pioneer will revert to shareholders on further progress in respect of this and other matters once more certainty exists.
31 Mar 2010 16:01:56
(Official Notice)
The Competition Commission has referred its findings of price fixing of milled white maize to the Competition Tribunal for prosecution. The commission has been investigating price fixing in the milling industry since 2007. The investigations led to the referral of two cases to the Tribunal, the wheat milling referral, which was referred recently as well as today's white maize milling referral. The milling investigations were initiated following Premier Foods' disclosure during the bread cartel investigation that the cartel, which involved largely the same companies, also covered their wheat and maize milling operations.



With respect to white maize milling the Commission found evidence of price fixing by Pioneer Foods, Foodcorp, Godrich Milling, Progress Milling, Pride Milling, Westra Milling, Brenner Mills, Blinkwater Mills, TWK Milling, NTK Milling, Carolina Mills, Kalel Foods, Bothaville Milling, Paramount Mills, Keystone Milling, Premier Foods and Tiger Brands. The maize milling case involves more firms than the wheat milling case, and the Commission may add more names to the referral papers as firms come forward to settle and disclose what they know of the cartel.



In its investigation the Commission found that the respondents discussed pricing, agreed on price increases and the timing of such increases. This was facilitated through meetings and telephone calls between the employees and representatives of these firms. The meetings and telephone calls took place at both regional and national levels and were mutually reinforcing. The Commission has asked the Tribunal to impose an administrative penalty of 10 percent of annual turnover for the 2009 financial year on each of the firms involved, except Premier Foods and Tiger Brands who were granted conditional immunity from prosecution by the Commission provided that they fully co-operate in the Commission's investigation and prosecution of this case. The Commission is concerned about the prevalence of cartels in staple food products. This has a huge impact on the prices of these products, and therefore undermines efforts to fight poverty in the country.
29 Mar 2010 14:19:11
(Official Notice)
Shareholders are advised that the Pioneer board has restructured as follows with immediate effect:



Resignation of non-executive directors:

Boy Blanckenberg (Chairperson), Nols Louw (Vice-Chairperson), Albie Bester, Kosie van Niekerk and Antonie Jacobs decided to step down.



Appointment of non-executive directors:

Zitulele KK Combi (black businessman and Executive Chairperson of Thembeka Capital), Prof Mohammad Karaan (Dean of Agriculture at Stellenbosch University and director of Kaap Agri) and Thys du Toit (businessman, Chairperson of KWV and former MD of Coronation Fund Managers).Further board appointments may be made in time. The board has elected KK Combi as the Chairperson and Dr Iqbal Surve as Vice- Chairperson. The non-executive members of the new board are KK Combi, Dr Iqbal Surve, Jannie Mouton, George Eksteen, Andile Sangqu, Nonhlanhla Mjoli-Mncube, Thys du Toit and Mohammad Karaan and the executive members are Andre Hanekom, Leon Cronje and Tertius Carstens.



Boy Blanckenberg and Nols Louw have been appointed as consultants to Pioneer until the AGM in February 2011 to ensure a smooth transition. The new board will continue to actively pursue negotiations with the Competition Commission in order to find an amicable solution to the current pending Competition Commission matters.
29 Mar 2010 08:52:11
(Official Notice)
Shareholders were advised that the company had appointed PSG Capital (Pty) Ltd as sponsor to Pioneer Foods with effect from Monday, 29 March 2010.
26 Mar 2010 17:57:31
(Official Notice)
Shareholders are advised that Mr MT Swanepoel has resigned as an executive director of the board of directors of Pioneer Foods, effective 28 February 2010.
16 Mar 2010 12:03:41
(Official Notice)
Pioneer Foods received notification, as anticipated, from the competition commission ("the commission") that it has referred its investigation into the wheat milling market ("milling matter") to the competition tribunal for adjudication. Pioneer Foods is named as a respondent in the case together with other industry participants. The commission has recommended an administrative penalty of R1.6 billion or 10% of the 2009 annual group turnover of Pioneer Foods, although the referral refers to conduct up to the 2007 financial year, with respect to the company's alleged transgressions of the competition act in the wheat milling market. As mentioned before, the company wants to resolve the milling and other matters through cooperation with the commission, and without recourse to proceedings before the competition tribunal, if possible. The company has already met the commission in this regard. The administrative penalty sought by the commission in the milling matter may be adjusted lower depending on the outcome of continuing negotiations with the commission. The company is committed to fully cooperate with the commission in all investigations where the commission seeks its assistance.



Cautionary

Shareholders were further referred to the cautionary announcement dated 25 February 2010 and were advised to continue to exercise caution when dealing in their Pioneer Foods shares until a further announcement was made.
15 Mar 2010 13:36:13
(Official Notice)
The competition commission, subsequent to its investigation into collusion in the wheat milling market, has referred its findings to the competition tribunal against Pioneer Foods (Pty) Ltd ("Pioneer"), Foodcorp (Pty) Ltd trading as Ruto Mills ("Foodcorp"), Godrich Milling (Pty) Ltd ("Godrich"), Premier Foods (Pty) Ltd ("Premier Foods") and Tiger Brands Ltd ("Tiger Brands"). The case was initiated following revelations by Premier Foods during the bread cartel investigation that the cartel, which involved largely the same companies, also covered their milling operations. Premier Foods and Tiger Brands were subsequently granted conditional immunity from prosecution by the commission provided that they fully co-operate in the commission's investigation and prosecution of this case.



In its investigation the commission found that the respondents contravened the competition act by engaging in price fixing and dividing markets by allocating customers. This was facilitated through secret meetings and telephone calls between the employees of these firms. Arrangements seem to have been designed to, amongst other things, prevent price wars and discounting in the industry. The meetings were held at various venues, including churches, stadia and hotels.



Premier Foods, Tiger Brands, Foodcorp and Pioneer Foods control more than 90 percent of the wheat flour market. All four mill their own wheat into flour and use it to supply both their own bakeries and independent parties such as chain stores and smaller bakeries. Only Godrich does not have significant baking operations of its own. Premier Foods, Tiger Brands and Pioneer Foods have mills throughout the country, while Foodcorp and Godrich have mills in Gauteng. Flour is the main ingredient in the production of bread. The commission has asked the tribunal to impose an administrative penalty of 10 percent of annual turnover for the 2009 financial year on each of the firms involved, except Premier Foods and Tiger Brands which have been granted conditional immunity.
04 Mar 2010 07:23:06
(Official Notice)
Shareholders are advised that Mr T F Hendrickse has been appointed as the company secretary to Pioneer Foods, effective 1 April 2010. Mr Hendrickse takes over from Mr P J Stofberg, interim company secretary since 1 January 2010.
25 Feb 2010 13:54:04
(Official Notice)
The Competition Commission has lodged an appeal with the Competition Appeal Court against the Competition Tribunal's earlier ruling on the administrative penalty imposed on Pioneer, for its involvement in the bread cartel. In this case the Commission alleged that Pioneer, which owns Sasko and Duens bakeries, together with Tiger Brands Ltd ("Tiger Brands"), Foodcorp and Premier Foods colluded to increase the price of bread. Premier was granted leniency in exchange for its cooperation with the Commission, while Tiger Brands and Foodcorp settled their cases, admitted the conduct and paid administrative penalties. The Commission proceeded with the case against Pioneer and asked the Tribunal to impose a penalty of 10% of the Pioneer group turnover for 2006. Following a hearing, the Tribunal found that Pioneer had indeed colluded with fellow bakeries to fix the selling price of bread and to allocate markets amongst themselves. In its finding, the Tribunal noted that cartels are the most egregious offences in competition law, that poor consumers were particularly affected and that, absent mitigating factors, cartels deserved the maximum penalty provided in law. The Tribunal also concluded that Pioneers defence was premised on manifest falsehoods. The Tribunal then imposed a penalty of R195 million, being 10% of Pioneer Foods baking division's turnover for 2006, rather than its group turnover.



The Commission welcomes the findings of the Tribunal on the facts, namely that Pioneer had engaged in cartel behaviour, but does not believe that the criteria prescribed by the Tribunal to determine the penalty are appropriate to deter cartel behaviour. "While the Tribunal judgment appropriately castigates this cartel behaviour, we are not happy with the manner in which it calculated the penalty. Administrative fines must be set at levels that effectively deter anti-competitive behaviour. We believe that the precedent set by this ruling will negatively affect the Commission's ability to set effective fines in future cases" says Commissioner Shan Ramburuth. The Commission has asked the appeal court to reverse the Tribunal's finding on the penalty and impose a penalty of 10% of Pioneer's group turnover, which would amount to approximately R1.5 billion.
25 Feb 2010 11:19:37
(Official Notice)
Shareholders were referred to the announcements dated 19 February 2010 regarding the chairman's statement and the update on the competition issues, in which the company issued a business update and, inter alia, stated its firm intention to bring the bread matter and other matters before the competition commission to a swift close.



The company has raised a provision of R196 million to settle the penalty in the bread matter, following the release of the competition tribunal's decision on 3 February 2010. As a result of the provision raised, earnings per share and headline earnings per share for the six months ending 31 March 2010, is expected to decrease between 25% and 45% from the previous corresponding period. Shareholders are further advised that if this provision is not taken into account, an increase of between 20% and 40% is expected in earnings per share and headline earnings per share for the six months ending 31 March 2010, from the previous corresponding period. This earnings guidance may well be subject to change given the unpredictable nature of trading expected in the remaining two months of the interim period.



Cautionary announcement

Shareholders were advised that Pioneer Foods is currently in negotiations with the competition commission to settle the milling matter. The quantum of a potential administrative penalty to settle the matter is not yet determinable. Shareholders were also advised that the competition commission has decided to appeal the decision of the competition tribunal in the bread matter with regard to the criteria used to determine the revenue on which the penalty was based and, if successful, may result in the penalty imposed by the competition tribunal, being increased. The company has resolved that it is in its interests to oppose the competition commission's appeal and to lodge a cross appeal which, if successful, may have the effect of the penalty being reduced. Pioneer Foods will however continue to pursue amicable resolutions of this and other matters before the competition commission. Shareholders were accordingly advised to exercise caution until a further announcement on these matters, is made.
23 Feb 2010 17:27:15
(Official Notice)
At the annual general meeting of Pioneer Foods shareholders held on Friday, 19 February 2010, the requisite majority of shareholders approved the ordinary and special resolutions proposed at the meeting. The special resolutions will be lodged for registration with the companies and intellectual property registration office in due course.
22 Feb 2010 09:19:21
(Media Comment)
Business Report indicated that Pioneer Foods deeply regrets its role in the 2006 bread cartel but could face yet another penalty if the Competition Commission decides to persue its case against the group in the maize and wheat milling markets. Andre Hanekom, chief executive of the JSE listed consumer goods group told Business Report that the directors were seeking closure on the matter. Hanekom further added that a conciliatory stance was being taken as the the issue was deeply regretted, and the group wanted to formally apologise for its role in the bread cartel, which resulted in higher prices, less choice, and inferior services for consumers between 1999 and 2006.



The company said that the commission has launched an investigation into maize and wheat milling markets, concerning allegations of collusion among industrial players, including Pioneer Foods. The company also added that the commission had invited it to enter into discussions with a view to settling the matter. Pioneer has also conducted an internal investigation in respect of its operations in the maize and milling industries. The investigation is ongoing. The group has added that it wanted to resolve this matter through co-operation. Hendriks concluded that investors viewed the long term future of the company very seriously, and that Pioneer would look to resolve the matter as soon as possible.
19 Feb 2010 09:28:00
(Official Notice)
19 Feb 2010 09:15:24
(Official Notice)
03 Feb 2010 16:41:19
(Official Notice)
Shareholders are advised that Pioneer Foods received the decision and order of the Competition Tribunal concerning the two complaint referrals brought by the Competition Commission against the company, known as the Western Cape Bread Complaint and the National Bread Complaint, in which Pioneer Foods' bread baking division was alleged to have colluded with its competitors, amongst others, on bread prices and market division, in the Western Cape and nationally, in contravention of sections 4(1)(b)(i) and (ii) of the Competition Act.



The Tribunal ordered Pioneer Foods to pay an administrative penalty of 9.5% of its bread turnover for the Western Cape in the amount of R46 019 954 in respect of the Western Cape Bread Complaint plus an administrative penalty of 10% of Pioneer Foods` total annual bread turnover less the turnover of bread sales in the Western Cape, in the amount of R149 698 660 in respect of the National Bread Complaint, therefore a total administrative penalty of R195 718 614. The company will review the findings of the Competition Tribunal and consider its response after which further announcements will be made.
03 Feb 2010 15:01:47
(Official Notice)
12 Jan 2010 08:08:26
(Official Notice)
No change statement

Shareholders are advised that the annual financial statements for the year ended 30 September 2009 will be dispatched to shareholders on Wednesday, 13 January 2010 and contain no modifications to the audited provisional annual financial statements which were published on Monday, 30 November 2009.



Notice of annual general meeting

Notice is hereby given that the annual general meeting of shareholders will be held at Lemoenkloof Guest House, Paarl on Friday, 19 February 2010 at 09h00 to transact the business as stated in the notice of the annual general meeting.
07 Dec 2009 14:34:03
(Official Notice)
Shareholders are advised that Ms T Naidoo has resigned as company secretary to Pioneer Foods, effective 1 January 2010. Shareholders are further advised that Mr P Stofberg has been appointed as interim company secretary, effective 1 January 2010.
30 Nov 2009 10:29:49
(C)
Revenue was up 9% to R16.3 billion (R14.9 billion). Operating profit, before items of a capital nature, increased by 34% to R1 160 million. Headline earnings per ordinary share rose 22% to 355cps (291.4cps).



Dividend

The board declared a final dividend of 89cps (2008: 66cps), an increase of 35% on the declaration for the comparative period.



Prospects

Operating profit in the next reporting period will be influenced by:

*The volatility in raw material prices cost increases and particularly salaries, wages, electricity and transport costs and sales volumes driven by changing consumer spending patterns

*Deflationary pressures on selling prices.

*Sasko has experienced strong growth in this and previous reporting periods and is well positioned for further growth albeit at a slower rate given the relatively high comparative base.

The other businesses of the group should further unlock the potential to improve contributions to earnings. Group earnings should benefit from decreased finance costs given the improved debt position.

20 Oct 2009 09:12:06
(Official Notice)
Pioneer Foods advises that for the 12 months ended 30 September 2009, HEPS is expected to be between 350 and 405 cps or between 20% and 39% higher than the previous corresponding period. EPS is expected to between 315 and 370 cps (2008: 282 cps) or between 12% and 31% higher. The difference between EPS and HEPS is mainly from the impairment of goodwill relating to a particular transaction and certain fixed assets.



The annual results for the 12 months ended 30 September 2009 will be announced on or about 30 November 2009.
01 Oct 2009 10:45:26
(Official Notice)
Andre Hanekom group MD of Pioneer Foods will meet with analysts and investors in the US and UK between October 1st and October 8th 2009. His presentation contains no new material information and is filed in the Investor Relations section on the company's website at www.pioneerfoods.co.za.
09 Sep 2009 11:05:56
(Official Notice)
Pioneer Foods has made final closing arguments before the competition tribunal in its defence against complaint referrals in terms of:

*Allegations of anti-competitive behaviour in the Western Cape.

*Allegations of participating in a national bread cartel.



It is confirmed that during 2007, in the company's response to the Western Cape complaint referral, the company admitted to certain facts relating to collusion in the Western Cape. The relief sought, in this instance, by the competition commission, was for the imposition of an administrative penalty of 10% of the 2006 revenue from the production and sale of bread in the Western Cape. Revenue of the Western Cape baking division of the group amounted to R384 million for the year ended 30 September 2006. The company continues to defend itself against all other allegations including participation in a national bread cartel. The competition tribunal will announce its ruling in terms of the complaint referrals in due course. Pioneer Foods remains committed to the principles of good corporate governance and further entrenching its legal compliance programme.
25 Jun 2009 15:47:47
(Official Notice)
Pioneer Foods has appeared before the Competition Tribunal to defend itself against complaint referrals in terms of:

* allegations of anti-competitive behaviour in the Western Cape; and

* allegations of participating in a national bread cartel.

It is confirmed that during 2007, in the company's response to the Western Cape complaint referral, the company admitted to certain facts relating to collusion in the Western Cape. The relief sought, in this instance, by the Competition Commission, was for the imposition of an administrative penalty of 10% of the 2006 revenue from the production and sale of bread in the Western Cape. Revenue of the Western Cape baking division of the group amounted to R384 million for the year ended 30 September 2006. At present, the company continues to defend itself against all other allegations including participation in a national bread cartel. In terms of the legal proceedings, both parties have delivered their evidence and have closed their cases. Final legal arguments will be delivered in September 2009. The Competition Tribunal will make its decision thereafter. Pioneer Foods remains committed to the principles of good corporate governance and further entrenching its Legal Compliance Programme.
25 Jun 2009 09:20:31
(Media Comment)
Pioneer Food's sudden decision to close it's case before the competition tribunal was based on the group's view that Sasko had contravened the Competition Act in the Western Cape, Andre Hanekom, the managing director of Pioneer Foods, which owns Sasko Bakery said. Pioneer has accepted a number of the allegations made by the competition commission with regard to the Western Cape market in December 2006. It accepts that there was an agreement to increase the price of toaster bread in the Western Cape, that there was an agreement to reduce the commission paid to distributors, that there was an agreement not to poach each other's distributors or employees, and that there was an agreement not to distribute bread on Christmas Day and on Boxing Day.

19 Jun 2009 08:40:00
(Media Comment)
Business Report quoted ex-PNR Foods Cape Regional sales manager, David Donavon, as saying that he met with bosses from Duens and Sasko, both brands of the group, in December 2006 to discuss raising the price of bread of by between 35c and 45c a loaf. The Competition Commission has alleged that PNR Foods was part of a bread cartel engaging in price-fixing and the Competition Tribunal will continue with hearing into the matter.
25 May 2009 09:24:32
(C)
Revenue increased from R6.978 million to R8.374 million in 2009.Gross profit rose to R2 186 million (2008:R1 863 million) and operating profit increased to R548.5 million (2008:R395.8 million). Profit attributable to ordinary shareholders increased to R296.8 million (R223.6 million). Headline earnings on a per share basis increased to 169.9cps (144.0cps).



Dividends per share

An interim dividend of 36.0cps was declared for the period under review.



Prospects

A more stable food price environment is expected to contribute to an improved operational performance for the full year, though upward cost pressures persist. The growth momentum for the full year is expected to be in line with that achieved in the first half, whilst dependent on the following assumptions:

*Sales volumes from maize meal products to remain at full production capacity

*Sales volumes from bread to be sustained

*Sales volumes from wheaten products to improve

*A much improved performance from the egg business over the corresponding second half of the previous year

*No profit contribution from the broiler business in the current financial year

*Lower raisin export volumes due to a substantially smaller crop

*Improvement in contribution from the fruit concentrate mixtures category

21 May 2009 17:16:57
(Official Notice)
Shareholders are advised that Mr JF Mouton has been appointed as a non-executive director of Pioneer Foods, effective 20 May 2009. Shareholders are further advised Mr JN Hamman resigned as a non-executive director of Pioneer Foods, effective 20 February 2009.
29 Apr 2009 07:57:47
(Official Notice)
Pioneer foods hereby advises that a reasonable degree of certainty exists that earnings for the 6 months ended 31 March 2009 will be as follows: Headline earnings between 163 to 172 cps (2008:144.0 cps) or between 13% and 19% higher. Earnings between 164 to 173 cps (2008:144.9 cps) or between 13% and 19% higher.



A prime contributor is the Sasko business, which achieved an improved operating margin for the reporting period with stronger than expected sales, particularly in March 2009. The comparative period was negatively affected by the delayed recovery of increased raw material costs as well as the once off commissioning costs to upgrade baking facilities, which are now contributing improved sales revenue. Indications are that food inflation will moderate towards the end of the year though upward cost pressures are persisting. A more stable food pricing environment should contribute to an improved performance for the full year. The results for the 6 months ended 31 March 2009 will be announced on or about 25 May 2009.
20 Feb 2009 15:13:39
(Official Notice)
At the annual general meeting of Pioneer Foods shareholders held today, 20 February 2009, the requisite majority of shareholders approved the ordinary and special resolutions proposed at the meeting. The special resolutions will be lodged for registration with the companies and intellectual property registration office in due course.
01 Dec 2008 08:39:19
(C)
PNR Foods reported maiden full-year results as a listed company showing revenue of R14.9 million and an operating profit of R845.7 million. Net profit attributable to ordinary shareholders came in at R452.2 million. In addition, headline earnings was 292.4cps.



Dividend

A final ordinary dividend of 66cps has been declared.



Prospects

The board remains optimistic about the short and longer term growth potential of PNR Foods. A number of factors will determine the speed and magnitude of the group's earnings growth. The potential turnaround in the egg and broiler businesses, the contribution potential from the Pepsi venture and the optimisation of profitability of the Bokomo Foods division are of particular interest. A sustained solid performance from the milling and baking businesses is also key to future earnings growth.



The significant decline in international and local wheat prices during the last quarter of the year under review is expected to contribute to lower food inflation in the group's basket of products in the current year. This will positively affect earnings while limiting further increases in working capital. Debt however is expected to largely remain at current levels. The board is confident in the inherent strength of the group's product basket and development potential and expects margins to improve over time as operating costs stabilise and inflation subsides.
11 Aug 2008 09:39:32
(Official Notice)
Mr Antonie Egbert Jacobs has been appointed as a non-executive director of Pioneer, effective 7 August 2008.
26 Jun 2008 13:20:00
(Official Notice)
Shareholders are advised that the percentage of the shares subscribed for in terms of the Rights Offer has been updated as follows:

*Rights Offer shares subscribed for: 17 687 733, representing 88.44% of the Rights Offer shares

Accordingly, the Rights Offer shares which will be allocated to Zeder Investments Ltd as underwriter, will be 2 312 267.
18 Jun 2008 10:14:30
(Official Notice)
Pioneer is meeting with investors and analysts in Cape Town, 18 June 2008 at the CSSS 2nd South African Consumer Conference. The presentation made by Pioneer contains no new material information, not in the public domain.
17 Jun 2008 16:55:16
(Official Notice)
Further to the announcements dated 15 April 2008 and 9 May 2008 regarding the proposed rights offer, Pioneer Foods shareholders are advised that the results of the renounceable rights offer of 20 000 000 Pioneer Foods ordinary shares to Pioneer Foods shareholders or their renouncees at a price of 2 500c per rights offer share in the ratio of 10.28251 rights.
27 May 2008 07:34:26
(C)
Headline earnings increased by 10.0% to R222 million (2007: R202m) on the back of a 25.0% growth in revenue to R7 billion (2007: R5.5b) for the six months ended 31 March 2008. Cash profit from operating activities increased by 11.6% to R540 million, whereas operating profit before items of a capital nature increased with 11.7% to R395 million.



Dividend

The board approved an interim dividend of 30.0 cents (2007: 27.0 cents) per ordinary share.



Prospects

The prospects of the group are very much linked to the success in managing profit margins which will be difficult to achieve in the current climate given the challenging trading environment. Given the lagged recovery of record high input costs, further price increases will follow and could cause volume growth in key staple categories to slow in the following months. Nevertheless, the board remains positive that with the added capacity coming on-stream in the next 18 months, and the defensive nature of the product mix, the group will be able to maintain its earnings growth momentum in the medium to long term, while recognising that margin pressure will cause growth to slow in the current financial year. The group will do well to achieve growth in earnings for the year to 30 September 2008.
22 May 2008 09:12:21
(Official Notice)
It is the intention of Pioneer Foods to release the company's interim results for the six months ended 31 March 2008 on or about Tuesday, 27 May 2008. Due to the proposed rights offer of which the salient dates and times were released on SENS on Friday, 9 May 2008 and also in order to comply with the prescribed number of trading days between the dividend declaration date and record date in terms of the listings requirements of the JSE Ltd, this dividend has to be declared before the interim results announcement. Shareholders are advised that participants in the proposed rights offer therefore will not be eligible to receive the interim dividend payment.



Accordingly, notice is hereby given that an interim dividend of 30cps is declared and payable to shareholders recorded in the register of the company at the close of business on the Friday, 13 June 2008. The salient dates pertaining to the interim dividend are as follows:

*Last day to trade cum dividend -- Friday, 6 June 2008

*Trading commences ex dividend -- Monday, 9 June 2008

*Record date -- Friday, 13 June 2008

*Payment date -- Thursday, 3 July 2008
09 May 2008 16:47:53
(Official Notice)
The Pioneer Foods announcements, dated 7 April 2008 and 15 April 2008, refer. The rights offer will be for a total of 20 000 000 new Pioneer Foods ordinary shares in the ratio of 10.28251 rights offer shares for every 100 shares held at the close of trade on Friday, 23 May 2008, at an issue price of 2 500c per rights offer share. If fully subscribed, the rights offer will raise R500 million before expenses.
07 May 2008 15:57:18
(Official Notice)
Shareholders are referred to the disclosure made by Pioneer Foods in paragraph 35 of its - pre-listing statement, dated 15 April 2008, in regard to potential complaint referrals by the Competition Commission of South Africa. Pioneer Foods received a complaint referral on 6 May 2008 from the Competition Commission in connection with the alleged operation of a bread cartel within the Republic of South Africa and contravention of sections 4(1)(b)(i) and (ii) of the Competition Act 89/1998. Pioneer Foods and its advisors are studying the contents of the referral and will respond to the Competition Commission in the next few weeks in terms of the referral. Further announcements will follow at the appropriate time.
23 Apr 2008 16:24:27
(Official Notice)
Further to the announcement of 15 April 2008 relating to the proposed rights offer by PNR Foods, shareholders are referred to the salient dates and times as set out in that announcement and are advised that the date on which the finalisation announcement will be made has been moved to on or about 8 May 2008. All other dates remain as previously announced. Any further changes to the above will be communicated through SENS.
19-Mar-2018
(X)
Pioneer Foods is one of the largest South African producers and distributors of a range of branded food and beverage products. The Group operates mainly across South Africa, providing wholesale, retail and informal trade customers with products of a consistently high standard. Pioneer Foods exports to more than 60 countries across the globe. The growing international business represents 21% of operating profit.



The Group operates a number of world-class production facilities producing a range of products that includes some of the most recognisable and best loved brand names in South Africa, including the following power brands: Weet-Bix, Liqui-Fruit, Ceres, Sasko, Safari, Spekko and White Star.



The equity-accounted, joint venture investments based in South Africa, Nigeria, Botswana and Namibia do not form part of PFI?s segmental results, but are managed by the International division.



These include:

*Heinz Foods SA (49.9%)

*Bowman Ingredients South Africa (50%)

*Bokomo Namibia (50%)

*Bokomo Botswana (50%)

*Food Concepts Pioneer Limited, Nigeria (50.1%)

*Alpen Food Company SA (50%)

*Amigear Ventures Botswana (49%)



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