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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 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. 9 November 2011 Paarl Sponsor PSG Capital Date: 09/11/2011 17:00:02 Supplied by www.sharenet.co.za 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.
