TBS - Tiger Brands Limited - Trading Update - underlying assumptions

TBS - Tiger Brands Limited - Trading Update - underlying assumptions            
TIGER BRANDS LIMITED                                                            
"Tiger Brands", or "the Company"                                                
(Incorporated in the Republic of South Africa)                                  
(Registration number 1944/017881/06)                                            
Share code: TBS                                                                 
ISIN: ZAE000071080                                                              
TRADING UPDATE - UNDERLYING ASSUMPTIONS                                         
In the trading update issued by Tiger Brands on 14 February 2012, the           
Company advised that, despite difficult trading conditions, headline            
earnings per share were expected to show satisfactory growth for the year       
ending 30 September 2012 as compared to the 2011 reported earnings.             
The JSE has advised that this is regarded as a general profit forecast in       
terms of the provisions of the JSE Limited Listings Requirements. The           
following key assumptions were considered in arriving at the above              
general forecast which was compiled using the Group`s accounting policies       
as set out in Tiger Brands` recently published 2011 annual report:              
    -    Consumer spending on non-durable consumer goods will remain            
         under pressure during the remaining period of the current              
financial year;                                                        
    -    Soft commodity prices will gradually start to decline in the           
         second half of the financial year;                                     
    -    The Rand/Dollar exchange rate will remain fairly stable within         
a range of R7,75 to R8,00 to the US Dollar;                            
    -    Interest rates will remain more or less constant for the               
         remainder of the financial year;                                       
    -    The price of crude oil will remain fairly stable within a range        
of USD110 to USD118 per barrel; and                                    
    -    The acquisitions made during the latter half of the 2011               
         financial year should contribute positively to the group`s             
         earnings.                                                              
This general forecast has neither been reviewed nor reported on by the          
company`s auditors.                                                             
Bryanston                                                                       
Date:  17 February 2012                                                         
Sponsor                                                                         
JP Morgan Equities Limited                                                      
Date: 17/02/2012 17:15:01 Supplied by www.sharenet.co.za                     
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