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AVI
AVI
AVI - AVI Limited - Trading statement for the six months ending 31 December 2011
AVI Limited
(Registration number 1944/017201/06)
Share code: AVI
ISIN: ZAE000049433
("AVI" or "the Group")
TRADING STATEMENT FOR THE SIX MONTHS ENDING 31 DECEMBER 2011
Based on the Group`s aggregated trading performance for five months to November
2011 and the latest estimate for December 2011 we are required to issue the
following statement in accordance with Section 3.4 (b) of the Listings
Requirements of the JSE Limited:
* Consolidated headline earnings per share for the continuing operations of
the Group for the six months ending 31 December 2011 are expected to
increase by between 20% and 30% over the comparable period in the prior
year;
* Consolidated earnings per share for the continuing operations of the Group
for the six months ending 31 December 2011, including capital gains and
losses on the disposal of assets, are expected to increase by between 22%
and 32% over the comparable period in the prior year;
* Consolidated headline earnings per share for the total operations of the
Group for the six months ending 31 December 2011 are expected to increase
by between 17% and 27% over the comparable period in the prior year; and
* Consolidated earnings per share for the total operations of the Group for
the six months ending 31 December 2011, including capital gains and losses
on the disposal of assets, are expected to increase by between 25% and 35%
over the comparable period in the prior year.
Comparative numbers for continuing operations for the six months ended 31
December 2010 will be restated to exclude Denny`s results in line with the
disclosure adopted for the year ended 30 June 2011 and subsequent disposal of
Denny with effect from 1 July 2011. This will impact the previously disclosed
earnings per share from continuing operations as follows:
Impact of Denny restatement on earnings per share for continuing operations
Unaudited
Six months ended 31 December 2010
Previously Revised
disclosed
Headline earnings per ordinary share
152.3 147.8
Earnings per ordinary share
148.0 143.5
It is expected that AVI will release its interim results for the six months
ending 31 December 2011 on or about 12 March 2012.
The information above has not been reviewed or reported on by the Group`s
auditors.
Illovo
13 December 2011
Sponsor The Standard Bank of South Africa Limited
Enquiries +(27) 11 502 1300
Date: 13/12/2011 17:31:55 Produced by the JSE SENS Department.
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