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Country Bird expects halved earnings

Johannesburg - Country Bird Holdings [JSE:CBH] said in a trading update on Thursday that it expects headline earnings per share for the year ended June 30 2010, to be between 28 and 33 cents lower than 57 cents reported previously.
   
The company said it expects that its earnings per share would be between 40 and 45 cents lower than the 65 cents earlier.
   
Country Bird cited "difficult trading conditions in the South African poultry industry".
   
Adjusted earnings per share, after removing the affect of non-recurring items such as the fair value adjustments on the Sovereign Foods investment, were expected to be between 15 and 20 cents lower than the 47 cents per share for the previous year.
   
Country Bird expects to release its results on about August 25 2010.

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