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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 announcement dated Tuesday, 20
September 2011. This further trading update announcement 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 a
reasonable degree of certainty exists that its financial results for the
next reporting period will differ by 20% or more from that of the
previous corresponding reporting period.
Shareholders are advised that a reasonable degree of certainty now
exists. As previously disclosed, Pioneer Foods` financial results were
negatively affected by R654 million in its previous comparative
reporting period for the financial year ended 30 September 2010, in
respect of the Competition Commission administrative penalty ("the
penalty"). As the penalty is a non-recurring item, this further trading
update indicates expected performance for the year ended 30 September
2011 both including and excluding the effect of the penalty in the
comparative period.
Update - Comparative results including the penalty
Earnings per share and headline earnings per share for the year 30
September 2011 are expected to increase by between 195% and 215%.
Update - Comparative results excluding the penalty
Earnings per share and headline earnings per share for the year ended 30
September 2011 are expected to decrease by between 16% and 22%, if
comparative figures are adjusted to exclude the impact of the penalty of
R654 million.
The financial information on which this further trading update is based
has not been reviewed and reported on by the Company`s auditors.
The final financial results for the year ended 30 September 2011 are
expected to be released on SENS on or about Monday, 28 November 2011.
9 November 2011
Paarl
Sponsor
PSG Capital
Date: 09/11/2011 17:00:02 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.
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