Tiger Brands Limited - Trading Statement
TIGER BRANDS LIMITED
(`Tiger Brands`)
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN code: ZAE000023560
TIGER BRANDS LIMITED - TRADING STATEMENT
On 22 February 2005 the company released a trading update to coincide with the
annual general meeting of shareholders.
The trading update advised that Tiger Brands had experienced strong trading
conditions in the first quarter of the current financial year but that activity
levels had slowed down in the second quarter. This slowdown in the rate of
growth has continued, although the results for the month of March have benefited
from good performances by Groceries as well as Branded and Generic Medicines,
and from the positive impact of the weaker rand exchange rate on export
realisations.
It is expected that headline earnings per share for the six months ended 31
March 2005 will reflect an improvement of between 20% and 30% compared to that
achieved in the same period last year.
Earnings per share for the six months to 31 March 2005 are expected to be
between 70% and 85% higher than that achieved in the corresponding period last
year. The reason for the disparity between the rate of increase in earnings and
headline earnings per share is the reduced earnings base for the six months to
31 March 2004, caused by the impairment in 2004 of the company`s investment in
50% held associate C & T Malt. The resultant write-down of the investment was
excluded for the purposes of determining headline earnings per share for the six
months ended 31 March 2004.
It is expected that the results for the six months to 31 March 2005 will be
released on 18 May 2005. The information in this trading statement has not been
reviewed and reported on by the company`s auditors.
Bryanston
31 March 2005
Sponsor
JP Morgan Equities Limited
Date: 31/03/2005 02:23:40 PM
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