RCL FOODS LIMITED – Group monetary outcomes and declaration of money dividend for the six-month interval ended December 2020 – SENS


Group monetary outcomes and money dividend declaration for the six months ended December 2020

(Included within the Republic of South Africa)
ISIN: ZAE000179438
Share Code: RCL
(‘RCL FOODS’ or ‘the Firm’ or ‘the Group’)


– Income up 10.5% to R15,7 billion
– Earnings earlier than depreciation, amortisation and impairment
(EBITDA) down 3.1% to R1 130,0 million
– Underlying* EBITDA up 18.0% to R1 344,8 million
– Headline earnings per share (HEPS) up 12.0% to 59.7 cents
– Underlying* HEPS up 28.0% to 77.1 cents
– Earnings per share (EPS) down 1.6% to 61.6 cents
– Underlying* EPS up 30.7% to 79.1 cents
– Interim dividend declared of 15.0 cents per share, in line
with prior interval

*The underlying view of the outcomes excludes materials once-offs
and accounting changes. Seek advice from the ‘Reconciliation between
unadjusted and underlying outcomes’ part supplied as a part of the
full announcement for additional particulars.

RCL FOODS is proud to current a satisfying set of interim outcomes,
with the range of its portfolio offering resilience amidst
the COVID-19 pandemic. Noteworthy contributors to the improved
outcomes got here from the Sugar, Baking and Vector Logistics segments,
translating right into a 28.0% enhance in underlying headline earnings
per share.

The Meals Division delivered a strong set of outcomes. Sugar’s
continued enchancment was primarily as a consequence of increased gross sales volumes and
costs, a profitable shift in gross sales combine in direction of higher-priced
native market gross sales coupled with substantial price financial savings realised
in agriculture and provide chain. Baking delivered a considerable
enchancment on the prior interval, underpinned by sturdy demand and
a turnaround on the Gauteng bakeries. Groceries delivered an
acceptable outcome general contemplating the continued damaging
impression of the lockdown restrictions on Pies volumes.

The Hen Division’s efficiency was negatively impacted by
continued challenges in agriculture in addition to R100,7 million
provide chain aid and extra storage prices related to
the COVID-19 pandemic.

Vector Logistics’ outcomes for the present reporting interval embrace
the take-on of latest principals as a result of Imperial Chilly Chain (ICL)
enterprise acquisition, whereas these principals had been solely included
for one month within the prior interval. Regardless of the continued impression of
COVID-19, Vector delivered underlying development within the present interval
primarily as a result of take-on of latest enterprise and consolidation of the
duplicate networks.

EPS for the comparative interval was increased than HEPS largely as a consequence of
the inclusion of a achieve on discount buy by Vector Logistics of
sure of the ICL property, which was excluded from the calculation
of HEPS.


Discover is hereby provided that the administrators have declared an interim
gross money dividend (quantity 92) of 15.0 cents (12.0 cents web of
dividend withholding tax) for the six months ended December 2020.

The dividend has been declared from revenue reserves.

A dividend withholding tax of 20% will likely be relevant to all
shareholders who aren't exempt.

The issued share capital on the declaration date is 959 004 383
atypical shares. The corporate’s revenue tax reference quantity is

The salient dates for the dividend will likely be as follows:

Publication of declaration information Monday, 1 March 2021
Final day of commerce to obtain a dividend Tuesday, 20 April 2021
Shares start buying and selling ‘ex’ dividend Wednesday, 21 April 2021
Document date Friday, 23 April 2021
Cost date Monday, 26 April 2021

Share certificates is probably not dematerialised or rematerialised
between Wednesday, 21 April 2021 and Friday, 23 April 2021, each
days inclusive.

The contents of this short-form announcement are the
accountability of the board of administrators of the Group.

Shareholders are suggested that this short-form announcement
represents a abstract of the data contained within the full
announcement and doesn't comprise full or full particulars as
printed on the RCL FOODS web site, www.rclfoods.com on 1 March

Any funding selections by buyers and/or shareholders ought to
be based mostly on a consideration of the total announcement as a complete
and shareholders are inspired to evaluate the total announcement,
which is out there for viewing at
or on the Group’s web site set out above. Copies of the total
announcement could also be inspected on the Group’s registered workplace and
places of work of its sponsor at no cost, throughout workplace hours of 08h00
to 16h30, Monday to Friday. Traders and/or shareholders can also
request copies of the total announcement by contacting the corporate
secretary at [email protected] or on 087 362 8501.

1 March 2021

RAND MERCHANT BANK (A division of FirstRand Financial institution Restricted)

Date: 01-03-2021 07:05:00
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