BRIEF-Tiger Brands Sees HY HEPS To Be Between 35% And 45% Higher
Feb 17 (Reuters) - Tiger Brands Ltd TBSJ.J :
* VOLUNTARY TRADING UPDATE AND TRADING STATEMENT
* GROUP REVENUE FROM CONTINUING OPERATIONS FOR QUARTER ENDED 31 DECEMBER 2020 WAS UP 12,1%
* STRONG START TO YEAR WAS DILUTED BY A PARTICULARLY POOR PERFORMANCE FOR MONTH OF JANUARY 2021
* GROUP WAS UNABLE TO FULLY RECOVER HIGH LEVEL OF AGRICULTURAL COMMODITY COST PUSH, PLACING NAKED MARGINS UNDER PRESSURE
* HEPS FROM CONTINUING OPERATIONS FOR SIX MONTHS ENDING 31 MARCH 2021 IS EXPECTED TO BE BETWEEN 10% AND 20% HIGHER
* REGARDING INTENTION TO EXIT DECIDUOUS FRUIT BUSINESS, INITIAL EXPRESSION OF INTEREST PHASE HAS BEEN CONCLUDED
* HEPS FROM TOTAL OPERATIONS FOR SIX MONTHS ENDING 31 MARCH 2021 IS EXPECTED TO BE BETWEEN 35% AND 45% HIGHER
* FOLLOWING RECEIPT OF SEVERAL INDICATIVE OFFERS, BOARD APPROVED COMMENCEMENT OF A FORMAL DUE DILIGENCE PROCESS
* PREVENTATIVE COSTS DIRECTLY ATTRIBUTABLE TO COVID-19 AMOUNTED TO APPROXIMATELY R26 MILLION FOR FOUR MONTHS TO 31 JANUARY 2021
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