TBS
TIIH
TBS - Tiger Brands Limited - Trading Update
TIGER BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN code: ZAE000071080
TIGER BRANDS LIMITED
("the Company")
TRADING UPDATE
The trading environment in which the Company operates continues to be
characterised by a sustained slowdown in consumer spending and rapidly
declining food inflation.
The trading performance for the four months ended 31 January 2010 is
reflective of this market contraction, resulting in an overall decline in
sales volumes which is expected to begin to reverse only in the second half of
the calendar year. Turnover has been particularly impacted by price deflation
on the Company`s staple product categories such as wheat, rice and maize.
The results for 2010 are expected to benefit from the recent acquisition of
the Crosse & Blackwell mayonnaise business, reduced debt levels and lower
interest rates when compared to the prior year.
Despite the difficult trading conditions, headline earnings per share, before
taking into account the once-off IFRS 2 charges relating to the recently
concluded BEE Phase II transaction, are expected to show satisfactory growth
in real terms for the year ending 30 September 2010.
Bryanston
16 February 2010
Sponsor:
JP Morgan Equities Limited
Date: 16/02/2010 14:30:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
