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AVI forecasts higher profits
AVI forecasts higher profits

AVI forecasts higher profits

FMCG SUPPLIER NEWS

IOL Business - Jun 22nd 2012, 07:51

Consumer goods group AVI advised on Thursday that consolidated headline earnings per share for the group’s continuing operations for the year ending 30 June 2012 are expected to increase by between 24% and 31% over the prior year. 

Consolidated earnings per share for the continuing operations of the group for the year, including capital gains and losses on the disposal of assets, are expected to increase by between 24% and 31% over the prior year.

Consolidated headline earnings per share for the total operations of the group are also expected to increase by between 24% and 31% over the prior year.

Consolidated earnings per share for the total operations of the group for the year ending 30 June 2012, including capital gains and losses on the disposal of assets, are expected to increase by between 34% and 41% over the prior year.

The group said that comparative numbers for continuing operations for the year ended 30 June 2011 will be restated to exclude the results of the Real Juice Co. Holdings Proprietary Limited (RJC) in line with the disclosure adopted for the year ending 30 June 2012 and the intended disposal of RJC to Clover S.A. Proprietary Limited, which is subject to approval of the South African Competition Authorities.

It said this would impact the previously disclosed earnings per share from continuing operations as follows: HEPS are revised from 248.2c to 245.1c, while EPS are revised from 242.9c to 243c.

It is expected that AVI will release its results for the year ending 30 June 2012 on 10 September 2012. - I-Net Bridge  

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