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ASTRAL FOODS LIMITED - General trading update

Release Date: 19/09/2018 08:00
Code(s): ARL     PDF:  
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General trading update

ASTRAL FOODS LIMITED
“Astral Foods”
(Reg. No. 1978/003194/06)
(Incorporated in the Republic of South Africa)
Share Code: ARL
ISIN Code: ZAE000029757

GENERAL TRADING UPDATE

Shareholders are advised that Astral Foods’ Earnings per Share
(EPS) for the 12 months ending 30 September 2018 is expected to
be at least 80% up on the previous year. This implies that the
EPS for the twelve months ending 30 September 2018 is expected
to be at least 3 506 cents per share (2017: 1 948 cents per
share).

Headline Earnings per Share (HEPS) for the 12 months ending 30
September 2018 is expected to be at least 85% up on the
previous year.    This implies that the HEPS for the twelve
months ending 30 September 2018 is expected to be at least
3 513 cents per share (2017: 1 899 cents per share).

The improvement in the financial results for the 12 months
ending 30 September 2018 is mainly as a result of the
following:

-   Profits reported for the first half of 2018, which ended on
    31 March 2018, reflected a marked improvement on the results
    for the comparative period that was adversely impacted by
    abnormally high feed costs.

-   The result for 2018 includes net finance income, whereas in
    the comparative period, the group reported net finance costs
    of R14,8 million.

-   Although the results for the second half of 2018 are
    comparable with that of the second half of 2017, poultry
    sales volumes and selling prices came under pressure towards
    the end of the 2018 financial year due to a weakening in
    consumer demand. Increases in the fuel price and the VAT rate
    have had a negative impact on the consumer, with current
    trading conditions not as favourable as in the corresponding
    reporting period of the previous year.

A trading statement will be published once a more definitive
range of the expected earnings can be provided.

It is expected that the results for the 12 months ending
30 September 2018 will be published on SENS on 19 November
2018.

The information on which this general trading update is based
has not been reviewed and reported on by Astral Foods’
auditors.

Pretoria
19 September 2018

Nedbank Corporate and Investment Banking, a division of Nedbank
Limited
Sponsor

Date: 19/09/2018 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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