AVI LIMITED - Chairman's comment on trading conditions

Chairman's comment on trading conditions

AVI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017201/06)
Share Code: AVI
ISIN: ZAE000049433
("AVI" or “the Company”)

CHAIRMAN’S COMMENT ON TRADING CONDITIONS

At the annual general meeting of AVI held this morning, Gavin
Tipper, commented in relation to trading conditions that:

“AVI’s revenue for the first quarter ended September 2013 for
continuing operations was 9,8% higher than that for the same
period in the prior year. The consolidated gross profit margin
reduced slightly with some of the impact of a weaker Rand
absorbed in a challenging consumer spending environment,
however operating profit margin was largely maintained.

Entyce, Snackworks and Indigo have traded well so far with
volumes growing in most categories and rising input costs
ameliorated by selling price increases. I&J has not been able
to benefit fully from the weaker Rand with catch rates in
September impacted by bad weather, however catch rates are
expected to improve in the second quarter of the financial
year.

Fashion brands’ aggregated growth has been muted following the
strong performance in the first half of last year and with this
year’s new store openings in Spitz, Kurt Geiger and Green Cross
weighted towards the second half of the financial year.

Results for the first half of the 2014 financial year are
dependent on achieving targeted volumes over the festive
season.”

This information has not been reviewed and reported on by AVI’s
auditors.


Illovo
30 October 2013

Sponsor
The Standard Bank of South Africa Limited

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