Rainbow Chicken Limited - Trading Statement
Rainbow Chicken Limited
(Registration Number 1966/004972/06)
Share Code: RBW
ISIN: ZAE000019063
(`Rainbow` or `the Group`)
RAINBOW CHICKEN LIMITED - TRADING STATEMENT
Rainbow`s results for the six months ending 30 September 2005 will be released
on Wednesday, 16 November 2005. Prior to the release of these interim results, a
separate announcement will be issued regarding the impact of the transition to
International Financial Reporting Standards (`IFRS`). This trading statement
does not take into account any IFRS transition adjustments and is based on
current financial reporting under South African Statements of Generally Accepted
Accounting Practice.
Shareholders are advised that headline earnings and headline earnings per share
for the six months to September 2005, before taking IFRS transition adjustments
into account, are likely to be 65% - 85% higher than the corresponding reporting
period of the previous year. Earnings and earnings per share are likely to be
55% - 75% higher than the corresponding period of the previous year.
Despite the negative impact of the feed contamination issue experienced in the
latter part of the last financial year, earnings growth for the full year is
likely to be lower than the first six month`s growth. This is as a result of the
initial negative earnings contribution from the new further processing plant
which will be commissioned during October and Vector`s loss of the YUM! (KFC)
distribution contract. These material impacts were mentioned in the prospects
section of the 2005 Annual Report.
This trading statement is issued in compliance with the JSE Limited Listings
Requirements. The financial information on which this trading statement is based
has not been reviewed and reported on by the Group`s auditors.
7 September 2005
Durban
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 07/09/2005 11:53:06 AM
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