RHODES FOOD GROUP HOLDINGS LIMITED - Trading statement

Trading statement

Rhodes Food Group Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 2012/074392/06
JSE share code: RFG
ISIN: ZAE000191979
("the group")

TRADING STATEMENT

In terms of the Listings Requirements of the JSE Limited ("JSE"), companies are
required to publish a trading statement as soon as they are satisfied, with a reasonable
degree of certainty, that the financial results for the period to be reported on next will
differ by at least 20% from the financial results for the previous corresponding reporting
period.

Shareholders are advised that the group expects the following increase in earnings for
the year ended 27 September 2015:

                                        Year ended                  Year ended
                                 28 September 2014              27 September 2015
                                          Reported               Expected Range
Earnings per share (EPS)                     37.2c           105% - 110% higher    76.3c – 78.1c
Headline earnings per share                  36.9c           108% - 113% higher    76.8c – 78.6c
(HEPS)
Diluted HEPS                                 35.5c           108% - 113% higher    73.8c – 75.6c

The earnings guidance is calculated assuming that the 221 million shares in issue post
the listing of the group on the JSE on 2 October 2014 applied in both the 2014 and 2015
periods.

Normalised earnings, excluding the one-off listing costs of R21.8 million in the 2015
period, are expected to be as follows:

                                    Year ended                  Year ended
                                  28 September              27 September 2015
                                          2014               Expected Range
                                      Reported
Normalised EPS                            37.2c      132% - 137% higher     86.3c – 88.2c

Normalised HEPS                           36.9c      135% - 140% higher     86.7c – 88.6c

Normalised diluted HEPS                   35.5c      133% - 138% higher     82.7c – 84.5c


The information in this trading statement has not been reviewed and reported on by the
group’s independent external auditors.

The group’s financial results for the year ended 27 September 2015 will be released on
the Stock Exchange News Service of the JSE on 23 November 2015.

Groot Drakenstein
13 November 2015

Sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)

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