TBS
TIIH
TBS - Tiger Brands Limited - Trading Update
TIGER BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN code: ZAE000071080
("the Company")
TRADING UPDATE
The trading environment continues to be characterised by the slow
recovery of consumer spending in the domestic market and rising cost
inflation, resulting in an overall market volume decline in the
categories in which the Company operates.
The trading performance for the four months ended 31 January 2012 is
reflective of this market contraction, although the power of the group`s
basket of leading consumer brands continues to strongly underpin the
group`s performance. Net sales have increased due to improved price
realisations, thereby minimizing the impact of the volume declines on
operating margins.
The results for 2012 are expected to benefit from the acquisitions
concluded in the second half of the previous financial year and the
relative consumer buoyancy within the rest of the African continent. For
the year to date, the weaker Rand exchange rate has also had a positive
impact on the export businesses.
The acquisition of the Status brand became effective on 1 November 2011
and the group increased its shareholding in Langeberg and Ashton Foods to
100%, also with effect from 1 November 2011.
Despite the difficult trading conditions, headline earnings per share is
expected to show satisfactory growth for the year ending 30 September
2012 as compared to the 2011 reported earnings.
Bryanston
14 February 2012
Sponsor:
J.P. Morgan Equities Limited
Date: 14/02/2012 15:39:09 Produced by the JSE SENS Department.
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