AVI - AVI Limited - Chairman`s comment on trading conditions
AVI
AVI
AVI - AVI Limited - Chairman`s comment on trading conditions
AVI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017201/06)
Share Code: AVI
ISIN: ZAE000049433
("AVI" or "the Company")
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 2009 was in line with the prior year.
Revenue growth was constrained by lower consumer disposable income, lower
selling prices for I&J`s products in selected European markets and some
discretionary price reductions to support volumes in key grocery categories.
Volumes in Indigo Cosmetics and Spitz within the fashion brand portfolio were
sound for the quarter.
The consolidated gross profit margin has improved slightly with the easing of
some commodity costs, as well as the impact of a stronger Rand. This benefit has
been partially offset by lower selling prices in several categories. Operating
profit continues to benefit from the tight management of selling and
administration costs.
The outlook for the first half of the financial year is dependent on the
continuity of current trading conditions and in particular the level of consumer
demand over the festive season."
This information has not been reviewed and reported on by AVI`s auditors.
Illovo
21 October 2009
Enquiries
Simon Crutchley Owen Cressey
Chief executive officer Chief financial officer
Tel: +(27) 11 502 1300 Tel: +(27) 11 502 1300
e-mail: info@avi.co.za Website: www.avi.co.za
Sponsor : Standard Bank
Date: 21/10/2009 13:08:23 Produced by the JSE SENS Department.
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