TBS
TIIH
TBS - Tiger Brands Limited - Trading Update - underlying assumptions
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
TRADING UPDATE - UNDERLYING ASSUMPTIONS
In the trading update issued by Tiger Brands on 14 February 2012, the
Company advised that, despite difficult trading conditions, headline
earnings per share were expected to show satisfactory growth for the year
ending 30 September 2012 as compared to the 2011 reported earnings.
The JSE has advised that this is regarded as a general profit forecast in
terms of the provisions of the JSE Limited Listings Requirements. The
following key assumptions were considered in arriving at the above
general forecast which was compiled using the Group`s accounting policies
as set out in Tiger Brands` recently published 2011 annual report:
- Consumer spending on non-durable consumer goods will remain
under pressure during the remaining period of the current
financial year;
- Soft commodity prices will gradually start to decline in the
second half of the financial year;
- The Rand/Dollar exchange rate will remain fairly stable within
a range of R7,75 to R8,00 to the US Dollar;
- Interest rates will remain more or less constant for the
remainder of the financial year;
- The price of crude oil will remain fairly stable within a range
of USD110 to USD118 per barrel; and
- The acquisitions made during the latter half of the 2011
financial year should contribute positively to the group`s
earnings.
This general forecast has neither been reviewed nor reported on by the
company`s auditors.
Bryanston
Date: 17 February 2012
Sponsor
JP Morgan Equities Limited
Date: 17/02/2012 17:15:01 Produced by the JSE SENS Department.
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