AFGRI LIMITED - TRADING STATEMENT
AFGRI LIMITED
Incorporated in the Republic of South Africa)
Registration number: 1995/004030/06
Share Code: AFR
ISIN : ZAE000040549)
(`AFGRI` or `the company`)
TRADING STATEMENT
AFGRI is currently finalising its interim results for the six months ended 31
August 2004, which should be released on SENS on 24 November 2004. In this
regard, shareholders are advised that earnings per share will be 60% - 70%
higher than the corresponding reporting period of the previous year.
This is mainly attributable to a capital profit on the disposal, as detailed in
the terms announcement released on SENS on 3 September 2004, of the 50%
shareholding in Earlybird Farm (Pty) Limited (`Earlybird Farm`) to Astral Foods
Limited, which was concluded for a cash consideration of R250 million and a cash
dividend of R25 million declared by Earlybird Farm. Headline earnings per share
will be marginally up on the previous interim period.
AFGRI is trading under cautionary due to a BEE transaction currently under
discussion and the half year results together with the details on the BEE
transaction will be released towards the end of November 2004.
The forecast financial information on which this trading statement is based has
not been reviewed and reported on by the company`s auditors in accordance with
the JSE Securities Exchange South Africa Listings Requirements.
Johannesburg
18 November 2004
Merchant Bank and Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 18/11/2004 02:05:03 PM
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