TIGER BRANDS LIMITED - Trading statement

Release Date: 16/08/2018 08:33
Code(s): TBS
 
Wrap Text
Trading statement

TIGER BRANDS LIMITED
("Tiger Brands" or "the Company")
Incorporated in the Republic of South Africa
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080

Trading statement

In  accordance  with   paragraph   3.4(b)  of   the   Listings
Requirements of the JSE Limited (“JSE”), Tiger Brands is
required to publish a trading statement as soon as it is
satisfied that a reasonable degree of certainty exists that
its financial results for the period ending 30 September 2018
will differ by at least 20% from the prior comparative period.

As previously reported, Haco Tiger Brands (E.A) Limited
(“Haco”), was  disposed  of  with  effect from
14 December 2017. As a result, it has been accounted for as a
discontinued operation for the period up to the date of its
disposal, with the comparative information restated
accordingly.

Shareholders are accordingly advised that:

 -   Earnings per share (EPS) from total operations (including
     Haco) is expected to be between 421 cents and 709 cents
     lower or between 22% and 37% lower than the 1915 cents
     reported for the comparative period.

 -   Headline earnings per share (HEPS) from total operations
     (including Haco) is expected to be between 475 cents and
     800 cents lower or between 22% and 37% lower than the 2161
     cents reported for the comparative period.

 -   EPS from continuing operations (excluding Haco) is expected
     to be between 407 cents and 684 cents lower or between 22%
     and 37% lower than the 1848 cents reported for the
     comparative period.

 -   HEPS from continuing operations (excluding Haco) is
     expected to be between 474 cents and 797 cents lower or
     between 22% and 37% lower than the 2155 cents reported for
     the comparative period.

The information above reflects:
  -   A   continuation   of   the challenging   consumer  and
      competitive environment, with ongoing volume and pricing
      pressures.
  -   Significant cost increases derived from the adverse
      movement in the Rand, fuel price increases, labour
      settlements and higher administered costs, which have yet
      to be recovered in selling price increases.
  -   The significant impact of the recall of products and
      suspension of operations involving certain of the
      Company’s Value Added Meats Processing facilities. There
      is no material change to the guidance previously
      published on SENS in respect of these matters.
  -   Potential further impairments in respect of intangible
      assets in the Personal Care category.

The information in this trading statement has not been
reviewed or reported on by the Company's auditors.

The results for the year ending 30 September 2018 are expected
to be released on SENS on or about 22 November 2018.



Bryanston
16 August 2018

Sponsor
JP Morgan Equities South Africa Proprietary Limited

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