PFG - Pioneer Food Group Limited - Further Trading Update

PFG - Pioneer Food Group Limited - Further Trading Update                       
Pioneer Food Group Limited                                                      
Incorporated in the Republic of South Africa                                    
Registration number: 1996/017676/06                                             
Share code: PFG                                                                 
ISIN code: ZAE000118279                                                         
("Pioneer Foods" or "the Company")                                              
FURTHER TRADING UPDATE                                                          
Shareholders are referred to the SENS dated Wednesday, 30 March 2011. This      
trading update 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 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.                                                 
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.                                              
The financial information on which this trading statement is based has not been 
reviewed and reported on by the Company`s auditors.                             
21 April 2011                                                                   
Paarl                                                                           
Sponsor                                                                         
PSG Capital                                                                     
Date: 21/04/2011 16:00:02 Supplied by www.sharenet.co.za                     
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