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:
"Group revenue for the quarter ended September 2010 was 7,7% higher than the
same period in the prior year largely as a result of improved sales volumes in
all key categories.
Despite a lower contribution from I&J, group operating profit has benefitted
from the higher sales volumes as well as improved gross profit margins and
consequently the consolidated operating performance for the quarter is
materially ahead of the corresponding period last year.
I&J`s performance remains constrained by low export selling prices, including
the adverse impact of the strong Rand, however fishing conditions and operating
performance have been good and prices have improved slightly in some of our
export markets.
Trading conditions are expected to remain challenging with variable consumer
demand and tough price competition. The Group`s results for the first half of
the financial year are dependent on the continuity of consumer demand and in
particular achieving targeted volumes over the festive season."
This information has not been reviewed or reported on by AVI`s auditors.
AVI Limited
Illovo
20 October 2010
Sponsor
Standard Bank
Date: 20/10/2010 11:00:01 Produced by the JSE SENS Department.
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