RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“RCL FOODS" or “the Group”)


FURTHER TRADING STATEMENT – YEAR ENDED 30 JUNE 2024


Shareholders are referred to the trading statement released on the
Stock Exchange News Service (“SENS”) on 24 June 2024. RCL FOODS
reported that its headline earnings per share (“HEPS”) from total
operations* for the year ended 30 June 2024 (“current period”) would
be at least 51.2 cents (75.0%) higher when compared to the reported
HEPS from total operations of 68.3 cents for the year ended 30 June
2023 (“comparative period”); that its earnings per share (“EPS”) from
total operations for the current period would be at least 86.6 cents
(125%) higher when compared to the reported EPS from total operations
of 69.3 cents for the comparative period; and that a further trading
statement would be published as soon as the Group had reasonable
certainty on the expected HEPS and EPS ranges for the current period.


Shareholders of RCL FOODS are advised that it expects its HEPS from
total operations for the current period to be between 138.4 cents
(+102.6%) and 145.2 cents (+112.6%) when compared to the reported
HEPS of 68.3 cents from total operations for the comparative period.
EPS from total operations for the current period is expected to be
between 178.4 cents (+157.4%) and 185.4 cents (+167.5%) when compared
to the reported EPS from total operations of 69.3 cents for the
comparative period.


As highlighted in the trading statement released on SENS on 24 June
2024, the improvement in headline earnings was largely attributable
to Rainbow and Groceries. This was further supported by a strong end
to the current period in Sugar. The trading statement released on 24
June 2024 also provided guidance on Rainbow’s underlying Earnings
before interest, tax, depreciation, amortisation and impairments
(EBITDA)     for   the     current    period.      As   an    update     on   the   previous
guidance,     Rainbow’s       underlying      EBITDA         for   the    current    period
(complete 12 months) is expected to be between R650,0 million and
R690,0 million.


*The information provided in this trading statement relates to total
operations,        being    the      total    of    continuing         and    discontinued
operations. Discontinued operations include 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. Continuing
operations relate to the remaining RCL FOODS business, post the Vector
exit   and    Rainbow      unbundling.       The   remaining       RCL    FOODS     business
comprises the Groceries, Baking, Sugar and Group (shared services)
segments.


The Group’s financial results for the current period are expected to
be released on SENS on 2 September 2024.


The financial information on which this trading statement is based
has not been reviewed and reported on by the Group’s external auditors
and is the responsibility of the directors.




Westville
21 August 2024


Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)