RCL FOODS- REVISED TRADING STATEMENT
Shareholders are referred to the Trading Statement issued on SENS on 5 August 2014 advising that the Group expected its earnings per share (“EPS”) and headline earnings per share (“HEPS”) from continuing operations to be losses of between 50 and 60 cents (“the previous Trading Statement”).
The Group is finalising its results for the year ended 30 June 2014 and advises shareholders of the following, which replaces the range quoted above:
*EPS and HEPS are expected to be losses of between 45 and 50 cents compared to profits of 4.5 cents and 4.8 cents respectively for the comparable period.
The improvement from the previous Trading Statement relates to a change in the finalisation of the preliminary purchase price allocation in respect of the New Foodcorp Holdings (Pty) Ltd. acquisition, which has adjusted the June 2013 opening balance sheet. The Group”s results for the year ended 30 June 2014 are expected to be released on SENS on or about 27 August 2014. Accompanying these results the Group will release a set of pro-forma results, based on the assumption that all of the corporate activities (as described in the previous Trading Statement) occurred on 30 June 2013, in order to provide shareholders with a better understanding of the underlying performance of the Group for the year ended 30 June 2014. The financial information on which this revised trading statement is based has not been reviewed and reported on by the Group”s external auditors.