PFG - Pioneer Food Group Limited - Voluntary Trading Statement
PFG
PFG
PFG - Pioneer Food Group Limited - Voluntary Trading Statement
PIONEER FOOD GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1996/017676/06)
JSE share code: PFG
ISIN: ZAE000118279
("the Company" or "Pioneer Foods")
VOLUNTARY TRADING STATEMENT
Pioneer Foods hereby advises that a reasonable degree of certainty exists that
earnings for the 6 months ended 31 March 2009 will be as follows:
Headline earnings between 163 to 172 cents per share (2008:144.0 cps) or
between 13% and 19% higher; and
Earnings between 164 to 173 cents per share (2008:144.9 cps) or between 13% and
19% higher.
A prime contributor is the Sasko business, which achieved an improved operating
margin for the reporting period with stronger than expected sales, particularly
in March 2009. In addition, the comparative period was negatively affected by
the delayed recovery of increased raw material costs as well as the once off
commissioning costs to upgrade baking facilities, which are now contributing
improved sales revenue.
Indications are that food inflation will moderate towards the end of the year
though upward cost pressures are persisting. A more stable food pricing
environment should contribute to an improved performance for the full year.
The results for the 6 months ended 31 March 2009 will be announced on or about
25 May 2009.
This trading update has not been reviewed or reported on by the company`s
external auditors.
Paarl
29 April 2009
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 29/04/2009 07:15:02 Produced by the JSE SENS Department.
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