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BRIEF-Clover Industries six-month HEPS falls 14.7 pct
March 1, 2017 / 5:28 AM / 9 months ago

BRIEF-Clover Industries six-month HEPS falls 14.7 pct

March 1 (Reuters) - Clover Industries Ltd:

* Unaudited interim results for the six months ended Dec. 31, 2016 and declaration of scrip distribution

* Six-month revenue up 2.1 pct to R5.1 billion

* HY HEPS down 14.7 pct to 99.8 cents

* Interim dividend per share of 24.2 cents

* Mitigate further volatility in selling prices, clover took decision to hedge diesel prices for full financial year

* Remains confident that long-term benefits of City Deep integration and new launches will accrue in second half of financial year and beyond

* Weakened global economy and muted consumer sentiment will have a significant impact on Clover

* Inflationary cost increases will continue to be a challenge and structural changes are required as consumers remain under pressure

* Will also continue to investigate adjacent revenue streams (new principal income)

* Will continue to expand its operations withib bnls region, and to pursue export opportunities in africa where currency risks can be mitigated Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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