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Clover headline earning likely to dip in 2014 FY

3rd September 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JSE-listed branded consumer goods and beverages group Clover expects headline earnings a share for the year ended June 30 to be between 11.8% and 16.8% lower than the prior year’s 119.9c.

Earnings a share were likely to be between 20.7% and 25.7% lower than the earnings a share of 133.1c reported the year before.

Clover had previously indicated that a number of major factors had impacted on its financial performance for the financial year. These included a constrained trading environment, an adverse effect on sales volumes, a decline in principal volumes affecting fees earned for services rendered, rising inflation, and a shortage of raw milk supply during the last quarter of the financial year.

The company would release its results on September 16.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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