BRIEF-AVI Expects FY Consolidated HEPS To Decrease Between 4% And 6%

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BRIEF-AVI Expects FY Consolidated HEPS To Decrease Between 4% And 6%
Credit: © Reuters.

July 24 (Reuters) - Avi Ltd AVIJ.J :

* JSE: AVI - VOLUNTARY TRADING UPDATE AND STATEMENT FOR THE YEAR ENDED 30 JUNE 2019

* AVI LTD - GROUP REVENUE WAS 1,2% HIGHER THAN PRIOR YEAR FOR YEAR ENDED 30 JUNE 2019

* AVI LTD - FY FINANCE COSTS WERE HIGHER THAN LAST YEAR IN LINE WITH HIGHER DEBT LEVELS.

* AVI LTD - TRADING ENVIRONMENT WAS DIFFICULT THROUGHOUT FINANCIAL YEAR

* AVI LTD - CONSOLIDATED HEADLINE EARNINGS PER SHARE FOR YEAR ENDED 30 JUNE 2019 ARE EXPECTED TO DECREASE BY BETWEEN 4% AND 6% OVER PRIOR YEAR,

* AVI LTD - OPERATING PROFIT FOR FULL YEAR WAS LOWER THAN LAST YEAR

* AVI LTD - TOTAL IMPAIRMENT OF R87,0 MILLION AFTER TAX HAS BEEN MADE AGAINST GREEN CROSS' PROPERTY, PLANT AND EQUIPMENT AND TRADEMARK VALUES

* AVI LTD - CONSOLIDATED HEPS EXPECTED TO DECREASE FROM LAST YEAR'S 543,1 CENTS TO A RANGE OF BETWEEN 511 AND 521 CENTS PER SHARE IN FY

* AVI LTD - CONSOLIDATED FY EPS EXPECTED TO DECREASE FROM LAST YEAR'S 513,1 CENTS TO A RANGE OF BETWEEN 482 AND 493 CENTS PER SHARE

* AVI - FY OPERATING PROFIT IMPACTED BY RESTRUCTURING COSTS AT GREEN CROSS (R27M), UNREALISED MARK-TO-MARKET LOSS ON I&J'S FUEL HEDGES OF R13,4 MILLION

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