AVI
AVI
AVI - AVI Limited - Chairman`s Comment On Trading Conditions
AVI Limited
(Registration number 1944/017201/06)
Share code: AVI
ISIN: ZAE000049433
("AVI" or "the Group")
CHAIRMAN`S COMMENT ON TRADING CONDITIONS
At the Annual General Meeting of AVI held this morning, Angus Band, the
Chairman of AVI, commented in relation to trading conditions that:
"Revenue for the quarter ended September 2007 was 9% higher than the same
period in the prior year.
Sales volumes increased in all categories with the exception of seafood in
respect of which the different timing of export sales, which is expected to
be addressed during the second quarter, resulted in sales volumes being 9%
below the first quarter of 2006. In addition lower shrimp prices realised
accounted for a reduction of R23 million in I&J`s revenue. In spite of
these variances I&J recorded operating profit in line with that of the
prior year.
Higher input costs generally, but particularly in respect of commodities
utilised in the food and beverage categories, have put pressure on margins.
AVI is focusing on cost efficiencies and selective price increases to limit
the impact on margins."
This information has not been reviewed and reported on by AVI`s auditors.
Illovo
24 October 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: 24/10/2007 11:26:54 Produced by the JSE SENS Department.
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