Sharenet Sites 
Sharenet Sites
Chairman’s Comment on Trading Conditions
AVI LIMITED
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:
"Consolidated group revenue for the first quarter ended
September 2014 was 11,9% higher than that for the same period
in the prior year. The consolidated gross profit margin was
maintained whilst the operating profit margin improved,
substantially due to gains in I&J's operating profit as a
result of improved export revenues from the weaker Rand and a
better fishing performance during the quarter.
Despite the constrained consumer environment demand for the
group's brands was sound. Entyce, Snackworks and Indigo traded
satisfactorily with input cost pressures offset by selling
price increases taken in the second half of the prior financial
year. Spitz and Kurt Geiger grew operating profit in the first
quarter notwithstanding pressure on unit sales volumes. Green
Cross' retail business exceeded target revenue despite a
material loss of trading days caused by its major store
refurbishment program, however wholesale business volumes were
lower than budget.
Notwithstanding a reasonable first quarter, results for the
first half of the 2015 financial year are dependent on
achieving budgeted sales volumes over the festive season."
This information has not been reviewed and reported on by AVI’s
auditors.
Illovo
30 October 2014
Sponsor
The Standard Bank of South Africa Limited
Date: 30/10/2014 01:40:00 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.
