TIGER BRANDS LIMITED
("Tiger Brands" or "the Company")
Incorporated in the Republic of South Africa
(Registration number 1944/017881/06)
Share code: TBS
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
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
- 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
- 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.
16 August 2018
JP Morgan Equities South Africa Proprietary Limited
Date: 16/08/2018 08:33:00 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.
Email this JSE Sens Item to a Friend.