AVI - AVI Limited - Updated trading statement for the six months ending 31
AVI
AVI
AVI - AVI Limited - Updated trading statement for the six months ending 31
December 2008
AVI Limited
(Registration number 1944/017201/06)
Share code: AVI
ISIN: ZAE000049433
("AVI" or "the Group")
UPDATED TRADING STATEMENT FOR THE SIX MONTHS ENDING 31 DECEMBER 2008
In its trading update on 24 December 2008 AVI advised that consolidated earnings
per share for the continuing operations of the Group for the six months ending
31 December 2008, including net capital gains on the disposal of assets, were
expected to reflect an improvement of between 5% and 15% over the comparable
period in the prior year.
Due to the earlier than expected finalisation of the disposal of a non-core
subsidiary that packed private label teas and coffees, capital gains on the
disposal of assets are higher than expected. Consequently, consolidated earnings
per share for the continuing operations of the Group for the six months ending
31 December 2008, including net capital gains on the disposal of assets, are now
expected to reflect an improvement of between 20% and 25% over the comparable
period in the prior year.
The profit ranges relating to headline earnings that were provided in the
previous trading update on 24 December 2008 remain unchanged.
AVI will release its interim results for the six months ending 31 December 2008
on 9 March 2009.
The information above has not been reviewed and reported on by the Group`s
auditors.
Illovo
26 February 2009
Sponsor
Standard Bank
Enquiries
Simon Crutchley Tel: +(27) 11 502 1300
Chief executive officer
Owen Cressey Tel: +(27) 11 502 1300
Chief financial officer
Date: 26/02/2009 14:44:01 Produced by the JSE SENS Department.
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