Investor Presentaiton
Cambridge
food
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RHINO
THE NAME YOU CAN TRUST
THE
Massfresh Fruit:spot
Discontinued operations
Cambridge, Rhino and
Massfresh businesses
• Classified and reported as discontinued
operations
Income Statement: separate disclosure
of discontinued operations (2020 restated)
Balance sheet: assets and liabilities disclosed
as held for sale (2020 not restated)
• Not core to our Group's business
.
Sale anticipated to be completed during
first half of 2022
• Awaiting Competition Commission
recommendation to Tribunal - expected
end Q1 2022
(18.7%)
R7.2bn
Sales
(5.6%)^
(100bps)
18.1%
GP MARGIN*
2020: 19.1%
(41.5%)
(R706.6m)
Trading profit**
2020: (R499.5m)
2019: (R201.5m)
↑30.2%^
Includes IFRS 16
^ Excludes the Covid-19 and civil unrest impact
- refer to additional information for Management
assumptions used
* Excludes inventory write-offs as a result of the civil unrest
**Includes HO allocations
.
.
Cambridge sales impacted by high unemployment and reduced disposal
income and Government grants
Massfresh significantly impacted by depressed hospitality, restaurant and
catering sectors
Business unit expenses 12.8%
Civil unrest: 18 store affected
Covid-19 & civil unrest estimated impact:
Lost sales: R1,175.3m
•
Lost trading profit: R358.1m
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