RCL Foods said yesterday it expects its headline earnings per share (Heps) from total operations for the six months to June 30 to increase by between 102.6% and 112.6%.
The group said it expected Heps to be between 138.4 cents and 145.2 cents when compared to the reported Heps of 68.3 cents from total operations for the comparative period.
Earnings per share from total operations were expected to more than double to between 178.4 cents and 185.4 cents, when compared to the reported Eps from total operations of 69.3 cents for the comparative period.
The improvement in headline earnings was attributable mainly to Rainbow and the Groceries division. This was further supported by a strong end to the current period in Sugar, RCL said in a trading statement yesterday.
Recently listed Rainbow’s underlying earnings before interest tax depreciation and amortisation was expected to be between R650 million and R690m.
Discontinued operations included the Vector segment, which was classified as discontinued in the comparative period and disposed of in the first half of the current period, and the Rainbow segment which was classified as discontinued in the current period.
RCL Foods’s remaining business comprises the Groceries, Baking, Sugar and Group (shared services) segments. The results are expected to be released on September 2.
BUSINESS REPORT