PFG - Pioneer Food Group Limited - Further Trading Update
PFG
PFG
PFG - Pioneer Food Group Limited - Further Trading Update
Pioneer Food Group Limited
Incorporated in the Republic of South Africa
Registration number: 1996/017676/06
Share code: PFG
ISIN code: ZAE000118279
("Pioneer Foods" or "the Company")
FURTHER TRADING UPDATE
Shareholders are referred to the SENS dated Wednesday, 30 March 2011. This
trading update is in amplification of the aforementioned announcement.
In terms of the Listings Requirements of the JSE Limited, a listed company is
required to publish a trading statement as soon as it is satisfied that a
reasonable degree of certainty exists that its financial results for the next
reporting period will differ by 20% or more from those of the previous
corresponding reporting period.
Shareholders are advised that a reasonable degree of certainty now exists. As a
result of the R350 million provision made by Pioneer Foods in respect of the
Competition Commission administrative penalty in its comparative interim period
ended 31 March 2010, earnings per share and headline earnings per share for the
six month period ended 31 March 2011 are expected to increase by between 160%
and 180%, and by between 175% and 195%, respectively.
Shareholders are further advised that if the provision for the administrative
penalty in the comparative period is not taken into account, a decrease of
between 14% and 20% could have been expected in earnings per share and in
headline earnings per share for the six month period ended 31 March 2011, from
the previous corresponding period.
The financial information on which this trading statement is based has not been
reviewed and reported on by the Company`s auditors.
21 April 2011
Paarl
Sponsor
PSG Capital
Date: 21/04/2011 16:00:02 Produced by the JSE SENS Department.
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