BRIEF-Tiger Brands Sees HY HEPS To Be Between 35% And 45% Higher

  • Reuters
  • Stock Market News
BRIEF-Tiger Brands Sees HY HEPS To Be Between 35% And 45% Higher
Credit: © Reuters.

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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