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.
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