RCL FOODS LIMITED - Trading Statement

Trading Statement

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
("RCL Foods" or "the Group")

TRADING STATEMENT

Shareholders are advised that the Group is expecting that its
earnings per share ("EPS") for the interim period ended 31
December 2015 will be between 80 cents (+13.3%) and 90 cents
(+27.5%) versus the EPS of 70.6 cents for the interim period ended
31 December 2014, while headline earnings per share ("HEPS") will
be between 80 cents (+14.3%) and 90 cents (+28.6%) versus the HEPS
of 70.0 cents for the interim period ended 31 December 2014.

The earnings for the interim period ended 31 December 2015 include
the release of a R163 million provision for uncertain taxation
disputes raised in terms of IFRS 3 (Business Combinations) as part
of the Foodcorp acquisition. This matter has now been finalised
with the South African Revenue Service and consequently the income
tax expense for the period has been reduced by R163 million. The
release has no cashflow impact. The impact on EPS and HEPS,
included in the guidance above, is a positive 18.9 cents.

All business units with the exception of Sugar and Chicken have
shown positive growth over the comparable period. The Sugar
business unit has been adversely impacted by the worst drought in
Southern Africa in many years, whilst the Chicken business unit
has experienced an oversupply in the local market that has
negatively impacted profitability.


The Group’s results for the interim period ended 31 December 2015
are expected to be released on SENS on 23 February 2016.

The financial information on which this trading statement is based
has not been reviewed and reported on by the Group’s external
auditors.

Durban
19 February 2016


Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 19/02/2016 04:45:00 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.