RBW
RBW
RBW - Rainbow Chicken Limited - Trading statement
Rainbow Chicken Limited
(Registration Number 1966/004972/06)
Share Code: RBW
ISIN: ZAE000019063
("Rainbow" or "the Group")
RAINBOW CHICKEN LIMITED - TRADING STATEMENT
Rainbow`s results for the year ending 31 March 2009 will be released on
Tuesday, 9 June 2009. This trading statement is issued in line with guidance
provided in November 2008, that the Group expected 2009 earnings to be lower
than 2008.
Shareholders are advised that reported earnings, headline earnings, earnings
per share and headline earnings per share for the year to March 2009 are likely
to be 35% - 45% lower than the corresponding reporting period of the previous
year.
As previously noted, reporting the financial effects of certain financial
instruments used in the feed raw material procurement strategy introduces
volatility to the Group`s financial results. For this reporting period, the
pre-taxation impact on the Group`s results of these unrealized positions is
a negative impact of R153.2 million (2008: R34.4 million positive). Excluding
these impacts, earnings, headline earnings, earnings per share and headline
earnings per share for the year to March 2009 are likely to be only 10% - 20%
lower than the corresponding reporting period of the previous year.
This trading statement is issued in compliance with the JSE Limited Listings
Requirements. The financial information on which this trading statement is
based has not been reviewed and reported on by the Group`s auditors.
5 May 2009
Durban
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 05/05/2009 17:15:02 Produced by the JSE SENS Department.
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