Updated 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
Updated trading statement
In accordance with paragraph 3.4(b) of the Listings
Requirements of the JSE Limited (“JSE”), companies are
required to publish a trading statement as soon as they are
satisfied that a reasonable degree of certainty exists that
its financial results for the forthcoming reporting period
will differ by at least 20% from the previous corresponding
Accordingly, shareholders are referred to the trading
statement released on the Stock Exchange News Service (“SENS”)
on 16 August 2018 wherein Tiger Brands advised that headline
earnings per share (“HEPS”) and earnings per share (“EPS”) for
the year ended 30 September 2018 are expected to be more than
20% lower than the comparative period.
With the reporting period closed, the Company has a clearer
view of the expected full year results and a narrower range is
set out below.
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 advised that the Company expects:
- Earnings per share (EPS) from total operations (including
Haco) to be between 421 cents and 517 cents lower or
between 22% and 27% lower than the 1 915 cents reported for
the comparative period.
- Headline earnings per share (HEPS) from total operations
(including Haco) to be between 540 cents and 648 cents
lower or between 25% and 30% lower than the 2 161 cents
reported for the comparative period.
- EPS from continuing operations (excluding Haco) to be
between 370 cents and 462 cents lower or between 20% and
25% lower than the 1 848 cents reported for the comparative
- HEPS from continuing operations (excluding Haco) to be
between 539 cents and 647 cents lower or between 25% and
30% lower than the 2 155 cents reported for the comparative
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.
9 November 2018
JP Morgan Equities South Africa Proprietary Limited
Date: 09/11/2018 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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