AFR
AFR
AFR - AFGRI Limited - Trading Statement
AFGRI Limited
Registration Number: 1995/004030/06
(Incorporated in the Republic of South Africa)
ISIN: ZAE000040549
JSE share code: AFR
("AFGRI" or "the Company")
Trading Statement
AFGRI shareholders are advised that the Company is expecting an increase of
between 25% and 35% in earnings per share and between 3% and 6% in headline
earnings per share for the year ended 30 June 2010 compared to that of the
previous year. Diluted headline earnings per share for the year ended 30 June
2010 are also expected to increase by between 2% and 5%.
These results are supported by improved performances from the Group`s grain
storage business and its foods segment, comprising AFGRI Animal Feeds, AFGRI
Poultry and the oil and protein division. A return to profitability for AFGRI
Financial Services and a reduction in the Group`s average tax rate also
contributed to the improved results.
The percentage increase in headline earnings per share figures is expected to be
lower than the increase in earnings due to the change in the nature of items
adjusted for the purposes of headline earnings from predominantly capital losses
and impairments in 2009 to capital profits in the current year.
This trading statement has not been reviewed or reported on by AFGRI`s external
auditors. The release of the final announcement of results for the year ended
30 June 2010 is expected to be published on SENS on or about 1 September 2010.
Johannesburg
18 August 2010
Sponsor:
Investec Bank Limited
Date: 18/08/2010 12:11:02 Produced by the JSE SENS Department.
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