RCL FOODS LIMITED - Trading statement year ended June 2018

Release Date: 16/08/2018 16:05
Code(s): RCL
 
Wrap Text
Trading statement – year ended June 2018

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 – YEAR ENDED JUNE 2018

Shareholders are advised that RCL FOODS expects that its headline 
earnings per share (“HEPS”) for the year ended June 2018 will be
between 90.0 cents (+41.7%) and 100.0 cents (+57.5%) when compared
to the reported HEPS of 63.5 cents for the year ended June 2017
(“corresponding period”).

Earnings per share (“EPS”) for the year ended June 2018 is
expected to be between 100.0 cents (+67.5%) and 110.0 cents
(+84.3%) when compared to the reported EPS of 59.7 cents for the
corresponding period.

The improvement was driven by the recovery in the Chicken business
unit, strong volume performances in the Dressings, Pet Food and
Pies categories, lower interest costs and a tax credit related to
a S12L energy efficiency allowance. Chicken benefited from the
positive impact of the revised business model (lower commodity
exposure) implemented in February 2017 and lower feed input costs,
partially offset by the negative impacts of Avian Influenza and
the Listeriosis crisis. The Sugar business unit has been adversely
impacted by continued high levels of imports.

EPS for the year ended June 2018 is expected to be higher than
HEPS largely due to profits from the sale of dormant farms,
resulting from the implementation of the revised Chicken business
model.

The Group’s financial results for the year ended June 2018 are
expected to be released on SENS on 28 August 2018.

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

Durban
16 August 2018

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

Date: 16/08/2018 04:05:00 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.

Share This Story