ASTRAL FOODS LIMITED - General trading update

ASTRAL FOODS LIMITED
('Astral' or the 'Group')
(Reg. No. 1978/003194/06)
(Incorporated in the Republic of South Africa)
Share Code: ARL
ISIN Code: ZAE000029757

GENERAL TRADING UPDATE


Astral's earnings per share ('EPS') and headline earnings

per share ('HEPS') for its 2020 financial year ending 30

September 2020 ('2020 financial year') are expected to be

down by not more than 25% on the comparative previous year's

reported results of 1 659 cents per share for EPS and 1 674

cents per share for HEPS. EPS will be at least 1 244 cents

per share and HEPS at least 1 255 cents per share for the
2020 financial year.


The trading results for the year include costs to manage

the risks associated with Covid-19 and ensure the safety

of our staff. A complete shutdown in the quick service

restaurant (QSR) sector during the hard lockdown saw more

chicken being channelled to frozen production, resulting

in higher stock levels of individually quick frozen (IQF)
portions in the poultry industry. This resulted in

downward pressure on selling prices to the consumer market

which negatively affected the financial results for the
2020 financial year.


Notwithstanding the above, the operating profit for the
Group is expected to be down by not more than 15%.


The above information has not been reviewed or reported on

by Astral's external auditor. A further trading statement

will be released once reasonable certainty exists on the
range of the decreases.


The financial results for the 2020 financial year will be
published on or about 16 November 2020.

Pretoria
14 September 2020


Sponsor:    Nedbank Corporate and Investment Banking, a
division of Nedbank Limited

Date: 14-09-2020 09:00:00

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