RCL expecting losses for 2014 FY
JSE-listed RCL Foods on Tuesday said it expected to report a loss a share and a headline loss a share from continuing operations for the year ended June 30 of between 50c and 60c, as opposed to earnings per share (EPS) and headline earnings per share (HEPS) of 4.5c and 4.8c respectively during the prior year.
The company indicated that the decrease in EPS and HEPS was largely owing to the impact of corporate transactions, including the redemption of New Foodcorp Holdings’ Euro-dominated senior secured notes at a premium, which crystallised material foreign exchange losses.
Further, the restructuring of black economic-empowerment shareholdings resulted in material IFRS 2 charges.
Transaction costs associated with these transactions, as well as with the buy-out of the remaining 35.8% minority interest in Foodcorp, the acquisition of TSB Sugar South Africa and a R790.1-million pro rata minority rights offer, also contributed to the losses.
Meanwhile, since the acquisition, in January, TSB’s results had been compromised by the three-month off-crop season from January to March, high volumes of imports impacting sugar prices and a two-week industry strike, RCL noted.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















