Sharenet Sites 
Sharenet Sites
TBS - Tiger Brands Limited - Trading Update TIGER BRANDS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1944/017881/06) Share code: TBS ISIN code: ZAE000071080 ("the Company") TRADING UPDATE The trading environment continues to be characterised by the slow recovery of consumer spending in the domestic market and rising cost inflation, resulting in an overall market volume decline in the categories in which the Company operates. The trading performance for the four months ended 31 January 2012 is reflective of this market contraction, although the power of the group`s basket of leading consumer brands continues to strongly underpin the group`s performance. Net sales have increased due to improved price realisations, thereby minimizing the impact of the volume declines on operating margins. The results for 2012 are expected to benefit from the acquisitions concluded in the second half of the previous financial year and the relative consumer buoyancy within the rest of the African continent. For the year to date, the weaker Rand exchange rate has also had a positive impact on the export businesses. The acquisition of the Status brand became effective on 1 November 2011 and the group increased its shareholding in Langeberg and Ashton Foods to 100%, also with effect from 1 November 2011. Despite the difficult trading conditions, headline earnings per share is expected to show satisfactory growth for the year ending 30 September 2012 as compared to the 2011 reported earnings. Bryanston 14 February 2012 Sponsor: J.P. Morgan Equities Limited Date: 14/02/2012 15:39:09 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.
