RCL Foods: Loss expected after Foodcorp buy

RCL Foods expected to swing to a loss of between 45c and 50c in earnings a share and headline earnings a share from continuing operations for the year to June compared with profits of 4.5c and 4.8c, respectively, for the year before, the food company announced yesterday. The improvement from the previous trading update, which had indicated a loss a share and headline loss a share of between 50c and 60c, related to a change in the finalisation of the preliminary purchase price allocation of the Foodcorp Holdings acquisition. The company expected to release its results on or about August 27. RCL Foods shares closed unchanged at R15.85 on the JSE yesterday. – Nompumelelo Magwaza