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AVI eyes higher earnings

Jan 18 2010 17:52

Company Data

Avi Ltd [JSE : AVI]

Last traded R48.50
Change R0.30
% Change 0.62%
Cumulative volume 735,072
Market cap R16.59bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - Diversified group AVI [JSE:AVI] said on Monday that consolidated headline earnings per share for the continuing operations of the Group for the six months ending 31 December 2009 are expected to increase by between 5% and 10% over the comparable period in the prior year.

Consolidated earnings per share for the continuing operations of the Group for the six months ending 31 December 2009, including net capital gains on the disposal of assets, are expected to reflect a reduction of between 5% and 10% over the comparable period in the prior year.

The Board said it remains committed to disinvesting from the Argentinean hake and shrimp operations conducted by Alpesca ("Alpesca"), a wholly owned subsidiary of I&J.

"The recent implementation of a transferable quota system in Argentina, which enhances long term quota security and allows quota to be transferred separately from vessels, is a positive development which should improve value for prospective buyers.

"Alpesca's hake operation has been materially impacted by lower selling prices into export markets and is expected to make an operating loss for the first half," the group said.

AVI anticipates the release of its interim results for the six months ending 31 December 2009 on 8 March 2010.

- I-Net Bridge

 
 
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