Pioneer Food Group Ltd Provides Earnings Guidance for the Six Months Ended 31 March 2017
Pioneer Food Group Ltd. provided earnings guidance for the six months ended 31 March 2017. The company reported operating profit before items of a capital nature, adjusted for the impact of the Phase I B-BBEE share-based payment charge and the marked-to-market effect of the related hedge amounting to a net cost of ZAR 3.1 million and once-off merger and acquisition costs of ZAR 9.3 million, is expected to decrease by between 40% and 45% from the ZAR 1,236 million as reported for the six months ended 31 March 2016, adjusted headline earnings per share, adjusted for the aforementioned BEE SBP and once-off M&A costs is expected to be between 242.2 cents and 267.0 cents per share compared to the 479.3 cents per share for the prior corresponding period, being a decrease of between 44% and 49%, headline earnings per share is expected to be between 233.0 cents and 261.5 cents per share compared to the 556.4 cents per share for the prior corresponding period, being a decrease of between 53% and 58%, and earnings per share is expected to be between 234.0 cents and 262.5 cents per share compared to the 560.1 cents per share for the prior corresponding period, being a decrease of between 53% and 58%.