March 26, 2018 / 3:14 PM / 4 months ago

BRIEF-RCL Foods Says So Far Incurs 75 Mln Rand Costs Associated With Product Recall, Suspension Of Ops At Wolwehoek Processing Plant​

March 26 (Reuters) - RCL Foods Ltd:

* ‍UPDATES ON FINANCIAL IMPACT OF PRODUCT RECALL AND SUSPENSION OF OPERATIONS AT WOLWEHOEK PROCESSING PLANT​

* ‍IDENTIFIABLE COSTS INCURRED TO DATE, ASSOCIATED DIRECTLY WITH RECALL AND SUSPENSION OF PRODUCTION, ARE ESTIMATED TO BE APPROXIMATELY R75M​

* ‍THERE IS FINANCIAL IMPACT ASSOCIATED WITH LOST CONTRIBUTION ON POLONY PRODUCTS BEING OUT OF TRADE

* ‍THERE IS FINANCIAL IMPACT ASSOCIATED WITH UNEXPECTED IMPACT ON BALANCE OF RAINBOW’S CHILLED PROCESSED MEATS AND OTHER CHICKEN CATEGORIES​

* ‍MANAGEMENT ESTIMATES PROFIT IMPACT TO BE APPROXIMATELY R20M PER MONTH ​

* ‍ACTIVELY ENGAGING GOVERNMENT IN ORDER TO RESUME OPERATIONS AT WOLWEHOEK PROCESSING PLANT AS SOON AS POSSIBLE​ Source text for Eikon: Further company coverage:

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