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TIGER BRANDS LIMITED - Updated trading statement

Release Date: 09/11/2018 08:30
Code(s): TBS     PDF:  
 
Wrap Text
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
ISIN: ZAE000071080

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
reporting period.

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
accordingly.

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
     period.

 -   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
     period.

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.

Bryanston
9 November 2018

Sponsor
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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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,
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