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AVI
AVI
AVI - AVI Limited - Trading Update And Statement For The Six Months Ending
31 December 2007
AVI Limited
(Registration number 1944/017201/06)
Share code: AVI
ISIN: ZAE000049433
("AVI" or "the Group")
TRADING UPDATE AND STATEMENT FOR THE SIX MONTHS ENDING 31 DECEMBER 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 five months ended 30
November 2007
Revenue 2007 2006 Change
Rm Rm %
Entyce beverages 656 590 11.2
Snackworx 743 639 16.3
Chilled & frozen convenience 865 922 (6.2)
Out of home 175 144 21.5
Fashion brands 537 455 18.0
Corporate (1) 9
GROUP 2,975 2,759 7.8
Group revenue for the five month period to November 2007 was 7.8% higher than in
the comparable period of the prior year. Demand for the Group`s products has
been sound in the context of rising interest rates. Seafood revenues were
impacted by lower hake volumes in line with the 2007 reductions in total
allowable catch in both South Africa and Argentina, as well as lower shrimp
selling prices. Prices of most food and beverage categories were increased
during the period to reduce the adverse impact of rising commodity costs on
margins.
The following statement is made in accordance with Section 3.4 (b) of the
Listings Requirements of the JSE Limited:
- Consolidated headline earnings per share for the continuing operations of
the Group for the six months ending 31 December 2007 are expected to
increase by between 10% and 15% over the headline earnings per share for
the six months ending 31 December 2006; and
- Consolidated earnings per share for the continuing operations of the Group
for the six months ending 31 December 2007, including net capital gains on
the disposal of assets are expected to reflect an improvement of between 2%
and 7% over the earnings per share for the six months ending 31 December
2006. The prior period included a R40,8 million capital profit from the
disposal of I&J`s former head office building in Cape Town.
It is expected that AVI will release its interim results for the six months
ending 31 December 2007 on 6 March 2008.
The information above has not been reviewed and reported on by the Group`s
auditors.
Illovo
13 December 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: 13/12/2007 16:47:16 Produced by the JSE SENS Department.
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