TBS
TIIH
TBS - Tiger Brands Limited - Voluntary trading statement
TIGER BRANDS LIMITED
"Tiger Brands", or "the Company"
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080
VOLUNTARY TRADING STATEMENT
Tiger Brands is satisfied that sufficient certainty exists with regard to
its performance for the year ended 30 September 2011 to enable it to issue
this trading statement.
Shareholders are advised that, having considered the latest financial
information in respect of the year ended 30 September 2011, it is expected
that headline earnings per share ("HEPS") and earnings per share ("EPS")
will reflect increases of between 10% and 15% and between 15% and 19%
respectively, compared to the previous financial year. The differential in
the rate of growth between HEPS and EPS is primarily due to an abnormal
gain in 2011 arising from the recognition of the company`s equity interest
in National Foods Holdings Limited of Zimbabwe, which was not previously
accounted for.
As advised previously to shareholders, Tiger Brands implemented its BEE
Phase II transaction in October 2009. This transaction gave rise to a once-
off charge amounting to R152,7 million after tax, which was disclosed as an
abnormal item in the income statement for the year ended 30 September 2010.
Excluding this amount, HEPS in 2011 is expected to show an increase of
between 3% and 7% compared to the adjusted figure of 1 489.5 cents
reported in respect of the previous financial year.
The results for the year ended 30 September 2011 will be released on 23
November 2011 when a detailed analysis of the performance of the Company
will be provided. The information in this trading statement has not been
reviewed or reported on by the Company`s auditors.
Bryanston
15 November 2011
Sponsor
JP Morgan Equities Limited
Date: 15/11/2011 09:12:08 Produced by the JSE SENS Department.
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