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BRIEF-RCL Foods Sees FY HEPS Between 32 Cents And 44 Cents

Published 2019/08/16, 08:19
Updated 2019/08/16, 08:21
© Reuters. BRIEF-RCL Foods Sees FY HEPS Between 32 Cents And 44 Cents
RCLJ
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Aug 16 (Reuters) - RCL Foods Ltd RCLJ.J :

* JSE: RCL - FURTHER TRADING STATEMENT - YEAR ENDED JUNE 2019

* RCL FOODS LTD - SEES FY HEPS BETWEEN 32 CENTS (-66.9%) AND 44 CENTS (- 54.5%)

* RCL FOODS - EXPECTED DECLINE IN FY HEPS LARGELY ATTRIBUTABLE TO CHALLENGED PERFORMANCE OF SUGAR AND CHICKEN BUSINESS UNITS

* RCL FOODS LTD - SUGAR BUSINESS UNIT IS EXPECTED TO REPORT A SIGNIFICANT OPERATING LOSS FOR YEAR DRIVEN BY LOWER LOCAL MARKET DEMAND

* RCL FOODS LTD - LOWER LOCAL MARKET DEMAND IS PRIMARLY DUE TO IMPLEMENTATION OF HEALTH PROMOTION LEVY (SUGAR TAX)

* RCL FOODS LTD - FY EPS IS EXPECTED TO BE LOWER THAN HEPS AND BETWEEN NEGATIVE 8 CENTS (-107.5%) AND NEGATIVE 18 CENTS (-116.9%)

* RCL FOODS - DIFFICULT TRADING FOR CHICKEN CONTINUED UNABATED; LOCAL VOLUME & DUMPED IMPORTS DRIVING MARKET OVERSUPPLY, NEGATIVELY IMPACTING PRICING

* RCL FOODS - LARGELY DUE TO SUGAR IMPAIRMENT, EPS FOR FY SEEN LOWER THAN HEPS, BETWEEN NEGATIVE 8 CENTS (-107.5%) AND NEGATIVE 18 CENTS (-116.9%)

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