General trading update
ASTRAL FOODS LIMITED
(“Astral” or the “Group”)
(Reg. No. 1978/003194/06)
(Incorporated in the Republic of South Africa)
Share Code: ARL
ISIN Code: ZAE000029757
GENERAL TRADING UPDATE
Astral’s earnings per share (“EPS”) and headline earnings
per share (“HEPS”) for its 2020 financial year ending 30
September 2020 (“2020 financial year”) are expected to be
down by not more than 25% on the comparative previous year’s
reported results of 1 659 cents per share for EPS and 1 674
cents per share for HEPS. EPS will be at least 1 244 cents
per share and HEPS at least 1 255 cents per share for the
2020 financial year.
The trading results for the year include costs to manage
the risks associated with Covid-19 and ensure the safety
of our staff. A complete shutdown in the quick service
restaurant (QSR) sector during the hard lockdown saw more
chicken being channelled to frozen production, resulting
in higher stock levels of individually quick frozen (IQF)
portions in the poultry industry. This resulted in
downward pressure on selling prices to the consumer market
which negatively affected the financial results for the
2020 financial year.
Notwithstanding the above, the operating profit for the
Group is expected to be down by not more than 15%.
The above information has not been reviewed or reported on
by Astral’s external auditor. A further trading statement
will be released once reasonable certainty exists on the
range of the decreases.
The financial results for the 2020 financial year will be
published on or about 16 November 2020.
Pretoria
14 September 2020
Sponsor: Nedbank Corporate and Investment Banking, a
division of Nedbank Limited
Date: 14-09-2020 09:00:00
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