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Further trading statement – six months ended December 2023
RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
("RCL FOODS" or "the Group")
FURTHER TRADING STATEMENT – SIX MONTHS ENDED DECEMBER 2023
Shareholders are referred to the trading statement published
on the Stock Exchange News Service ("SENS") on 5 February 2024
("First trading statement"). RCL FOODS reported that its
headline earnings per share ("HEPS") from total operations*
for the six months ended December 2023 ("current period")
would be at least 16.9 cents (30.0%) higher when compared to
the reported HEPS from total operations of 56.4 cents for the
six months ended December 2022 ("comparative period"); that
its earnings per share ("EPS") from total operations for the
current period would be at least 57.6 cents (100%) higher when
compared to the reported EPS from total operations of 57.6
cents for the comparative period; and that a further trading
statement would be published as soon as the Group had
reasonable certainty on the expected HEPS and EPS ranges for
the current period.
Shareholders are advised that RCL FOODS expects its HEPS from
total operations for the current period to be between 79.5
cents (+41.0%) and 82.3 cents (+45.9%) when compared to the
reported HEPS from total operations of 56.4 cents for the
comparative period. EPS from total operations for the current
period is expected to be between 118.1 cents (+105.0%) and
121.5 cents (110.9%) when compared to the reported EPS from
total operations of 57.6 cents for the comparative period.
As highlighted in the First trading statement, the expected
improvement in HEPS from the comparative period was largely
attributable to Rainbow and the Sugar business unit. The
material difference between EPS and HEPS is mainly due to HEPS
excluding the profit arising on the sale of the Vector
Logistics segment and insurance proceeds related to the
Komatipoort sugar warehouse fire claim.
The Group's financial results for the current period are
expected to be released on SENS on Monday 4 March 2024.
The financial information on which this trading statement is
based has not been reviewed and reported on by the Group's
external auditors.
*The Vector Logistics segment has been reported as a
discontinued operation. The information provided in this
trading statement relates to total operations, being the total
of continuing and discontinued operations.
Westville
27 February 2024
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 27-02-2024 12:45:00
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