RCL FOODS LIMITED - Trading statement - year ending June 2020

Trading statement - year ending June 2020

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 ENDING JUNE 2020

In accordance with paragraph 3.4(b) of the Listings Requirements of
the JSE Limited ("JSE"), shareholders are advised that RCL FOODS
expects its headline earnings per share (“HEPS”) for the year ending
June 2020 (“current period”) to be at least 30% (11.4 cents per share)
lower compared to the HEPS of 37.9 cents per share for the year ended
June 2019 (“corresponding period”).

The COVID-19 pandemic (“pandemic”) and the nationwide lockdown
implemented by the South African government, has had a significant
impact on the Group’s results. The Chicken and Vector operations have
been most affected due to the shutdown of the quick-service restaurant
industry.

The lingering impact of the pandemic on consumer demand, as well as
the sovereign downgrade earlier in the year will also necessitate an
evaluation of the carrying values of the Group’s assets for possible
impairments.

A further trading statement will be released as soon as the Group has
a reasonable degree of certainty on the expected HEPS and EPS ranges
for the current period.

The Group remains well capitalised and is managing liquidity as a
priority during the pandemic.

The Group’s financial results for the current period are expected to
be released on SENS on or about 31 August 2020.

Any forecast financial information contained herein has not been
reviewed or reported on by the Group’s external auditors.

Durban
8 June 2020

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 08-06-2020 09:00:00
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