AVI LIMITED - Voluntary Trading Update and Statement for Year Ended 30 June 2016

Voluntary Trading Update and Statement for Year Ended 30 June 2016

AVI Limited
(Registration number
 1944/017201/06) Share code: AVI
 ISIN: ZAE000049433
(“AVI” or “the Group”)


VOLUNTARY TRADING UPDATE AND STATEMENT FOR THE YEAR ENDED 30 JUNE 2016


The Group’s brands performed well in a constrained demand environment with a sound second semester
performance from the grocery and personal care brands. The impact of input cost pressures arising from
the weaker Rand was limited by currency hedges, selling price increases and disciplined cost
management.


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

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


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

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

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

It is expected that AVI will release its results for the y e a r ended 30 J u n e 2016 on or about 1 2
September 2016.


The information above has not been reviewed and reported on by the Group’s auditors.

Illovo
21 July 2016
Sponsor                 The Standard Bank of South Africa Limited
Enquiries               +(27) 11 502 1300

Date: 21/07/2016 05:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.