AVI LIMITED - Voluntary trading update and statement for the six months ended 31 December 2015

Voluntary trading update and statement for the six months ended 31 December 2015

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


    VOLUNTARY TRADING UPDATE AND STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2015


In general the Group’s brands traded well in a constrained consumer environment with the impact of input
cost pressures arising from the weaker Rand limited by currency hedges, disciplined cost management and
selling price increases taken in the second half of the prior financial year.


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

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


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

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

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

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

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

Illovo
25 January 2016

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

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