AVI LIMITED - Chairmans Comment on Trading Conditions

Chairman’s Comment on Trading Conditions

AVI LIMITED
Registration number 1944/017201/06
Share Code: AVI
ISIN: ZAE000049433
(“AVI” or “the Company”)

CHAIRMAN’S COMMENT ON TRADING CONDITIONS

At the annual general meeting of AVI held this morning, Gavin
Tipper commented in relation to trading conditions that:

“Consolidated group revenue for the first quarter ended
September 2015 was 10,0% higher than that for the same period
in the prior year and the group gross profit margin and
operating profit margin both improved slightly.

I&J experienced better fishing than in the final quarter of the
2015 financial year and enjoyed improved export revenues as a
result of the weaker Rand. In general the group’s brands traded
well in a constrained consumer environment with the impact of
input cost pressures arising from the weaker Rand limited by
currency hedges, disciplined cost management and selling price
increases taken in the second half of the prior financial year.

Notwithstanding a reasonable first quarter, results for the
first half of the 2016 financial year are materially dependent
on sound consumer demand through the festive season."


This information has not been reviewed and reported on by AVI’s
auditors.


Illovo
5 November 2015

Sponsor
The Standard Bank of South Africa Limited

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