AVI LIMITED - Voluntary Trading Update and Statement for Year Ended 30 June 2016
AVI 201607210040A
Voluntary Trading Update and Statement for Year Ended 30 June 2016
AVI Limited
(Registration number
1944/017201/06) Share code: AVI
ISIN: ZAE000049433
(?AVI? or ?the Group?)
VOLUNTARY TRADING UPDATE AND STATEMENT FOR THE YEAR ENDED 30 JUNE 2016
The Group?s brands performed well in a constrained demand environment with a sound second semester
performance from the grocery and personal care brands. The impact of input cost pressures arising from
the weaker Rand was limited by currency hedges, selling price increases and disciplined cost
management.
Group revenue rose by 8% and both gross profit and operating profit margins were higher than in the prior
year. Sales volumes in the footwear businesses in the second semester were constrained by additional
price increases necessary to ameliorate the impact of the weaker Rand. Conversely, I&J benefitted from
the currency weakness and an improved contribution from its Australian seafood joint venture, despite a
cyclical decline in fishing catch rates and a smaller fish size mix.
The weighted average number of shares in issue during the period was 0,8% higher than in the same
period last year due to the issue of new shares in terms of the Group?s various share incentive
schemes, including the black staff empowerment share scheme.
The following disclosure is made in accordance with Section 3.4 (b) of the Listings Requirements of the
JSE Limited:
- Consolidated headline earnings per share for the year ended 30 June 2016 are expected to
increase by between 10% and 11% over the prior year. In cents per share this will be an increase
from last year?s 419,7 cents to a range between 461 and 466 cents per share;
- Consolidated earnings per share for the year ended 30 June 2016, including capital gains and
losses, are expected to increase by between 10% and 11% over the prior year. In cents per share
this will be an increase from last year?s 417,7 cents to a range between 459 and 464 cents per
share.
It is expected that AVI will release its results for the y e a r ended 30 J u n e 2016 on or about 1 2
September 2016.
The information above has not been reviewed and reported on by the Group?s auditors.
Illovo
21 July 2016
Sponsor The Standard Bank of South Africa Limited
Enquiries +(27) 11 502 1300
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