RFG Foods Holdings today reported a strong trading and financial performance for the six months to March 2016 and increased diluted headline earnings per share by 87.2% to 48.1 cents. Turnover increased by 54% to R2 billion with profit after tax 89% higher at R110 million. Chief executive officer Bruce Henderson said the robust sales…

The information in this trading statement has not been reviewed and reported on by the group’s independent external auditors.

Rhodes’ first television commercial, flighting from this week, aims to connect with consumers on an emotional level, rather than focus on product, by showcasing the many lessons that food teaches us.

RFG Foods’s integrated annual report for the year ended 27 September 2015, which incorporates a summary of the audited consolidated financial statements for the period, has today been published.

Further to the Acquisition Announcement, the Company’s board of directors is pleased to advise that all conditions precedent have been fulfilled and the Acquisition has become unconditional. The effective date of the Acquisition is 1 February 2016.

RFG Foods Holdings produced a strong trading performance in the year to September 2015 and increased normalised diluted headline earnings per share by 136% to 83.9 cents.

In terms of the Listings Requirements of the JSE Limited (“JSE”), companies are required to publish a trading statement as soon as they are satisfied, with a reasonable degree of certainty, that the financial results for the period to be reported on next will differ by at least 20% from the financial results for the previous corresponding reporting period.

Shareholders are advised that the Company’s wholly owned subsidiary, RFG Foods Proprietary Limited (“Rhodes Food“) and Ali Baba have entered into an agreement (“Agreement“) dated 30 October 2015 in terms of which Rhodes Food will acquire the business assets of Ali Baba (“the Acquisition“).