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Trading Statement
TASTE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 2000/002239/06)
Share code: TAS ISIN: ZAE000081162
(“Taste” or “the Company” or “the Group”)
TRADING STATEMENT
In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading statement
as soon as they become reasonably certain that the financial results for the period to be reported on will
differ by more than 20% from that of the previous corresponding period.
Taste is currently finalising its results for the year ended 28 February 2015 (“the current period”). The
directors anticipate that the earnings per share and the headline earnings per share (excluding the core
earnings adjustment described below) are expected to be between 6.7 cents and 7.1 cents, representing a
decrease of between 54% and 58%, compared to 15.6 cents and 16.0 cents respectively for the year ended
28 February 2014 (“the prior period”).
Core earnings
As with previous years the Group discloses core/normalised earnings. The Company uses this core earnings
measure to internally evaluate operating performance, to evaluate itself against its peers, and to determine
future performance targets and long-range planning. Additionally, Taste believes that stakeholders covering
the Company’s stock performance also utilise this measure. Taste will disclose this financial measure for as
long as it is relevant to stakeholders. Core earnings exclude once-off costs and revenues; as well as
Domino’s Pizza upfront costs relating to the launching of the Domino’s Pizza brand; the establishment of
dough production and distribution facilities; and the conversion of the Scooters Pizza and St Elmo’s stores to
Domino’s Pizza stores.
Accordingly, the Group anticipates that core EBITDA is expected to increase between 20% and 24% from
the prior period and core headline earnings in expected to increase between 15% and 19%. Consequent to
the rights offer in the second half of the current period and the related dilution, core headline earnings per
share is expected to be between 1% and 5% above the prior period.
The financial information on which this trading statement is based has not been reviewed or reported on by
Taste’s auditors. Taste's audited financial results are expected to be released on SENS on or about 26 May
2015.
Johannesburg
13 May 2015
Sponsor
Merchantec Capital
Date: 13/05/2015 03:58:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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