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AVI
AVI
AVI - AVI Limited - Trading Update And Statement: Year Ending 30 June 2007
AVI Limited
(Registration number 1944/017201/06)
Share code: AVI
ISIN: ZAE000049433
("AVI" or "the Group")
TRADING UPDATE AND STATEMENT FOR THE YEAR ENDING 30 JUNE 2007
The following update is based on the latest available trading information and
covers performance for the Group`s continuing operations.
Segmental revenue for continuing operations for the eleven months ended 31 May
2007
Revenue 2007 2006 Change
Rm Rm %
Retail beverage brands 1,225 1,117 9.7
Retail snacking brands 1,304 1,190* 9.6
Chilled & frozen convenience brands 1,954 1,574 24.1
Out of home 315 264 19.3
Fashion brands 994 813 22.3
Corporate 19 28
GROUP 5,811 4,986 16.5
* = includes R75 million from the Gum agency business discontinued at the end of
2006.
Group revenue for the eleven month period to May 2007 was 16,5% higher than in
the comparable period of the prior year. Despite signs of a slowdown in the rate
of growth in consumer spending in the second half of the year, demand for the
group`s products has been sound with revenue gains in each business unit.
The following statement is made in accordance with Section 3.4 (b) of the JSE
listings requirements:
- Consolidated earnings per share for the continuing operations of the Group for
the year ending 30 June 2007, including a capital profit on the sale of I&J`s
former head office building, are expected to reflect an improvement of between
50% and 60% over the earnings for the year ended June 2006; and
- Consolidated headline earnings per share for the continuing operations of the
Group for the year ending 30 June 2007 are expected to increase by between 30%
and 40% when compared to the headline earnings per share for the same period in
the prior year.
It is expected that AVI will release its audited results for the twelve months
ending 30 June 2007 on 10 September 2007.
The information above has not been reviewed and reported on by the Group`s
auditors.
Illovo
15 June 2007
Sponsor
Standard Bank
Enquiries
Simon Crutchley Tel: +(27) 11 502 1315
Chief executive officer
Owen Cressey Tel: +(27) 11 502 1316
Chief financial officer
Date: 15/06/2007 11:03:00 Produced by the JSE SENS Department.
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