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RCL FOODS LIMITED - Trading statement year ended June 2018

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

(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“RCL FOODS" or “The Group”)


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

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

16 August 2018

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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