March 23, 2020 / 8:08 AM / 6 days ago

BRIEF-Rhodes Food Group Says International Turnover Down 1.7% Due To Slowdown In Exports Of Canned Fruit To China

March 23 (Reuters) - Rhodes Food Group Holdings Ltd :

* JSE: RFG - TRADING UPDATE FOR THE FIVE MONTHS ENDED FEBRUARY 2020

* RHODES FOOD GROUP HOLDINGS LTD - GROUP TURNOVER FOR FIVE MONTH PERIOD ENDED FEBRUARY 2020 INCREASED BY 7.6%

* RHODES FOOD- INTERNATIONAL TURNOVER DECLINED BY 1.7% MAINLY DUE TO SLOWDOWN IN EXPORTS OF CANNED FRUIT TO CHINA SINCE JAN AFTER COVID-19 OUTBREAK

* RHODES FOOD - LIMITED EXPORTS HAVE BEEN MADE TO CHINA SINCE JANUARY WHICH HAS RESULTED IN A DECLINE OF 11.3% IN INTERNATIONAL VOLUMES

* RHODES FOOD - IMPACT OF REDUCTION IN EXPORT VOLUMES PARTIALLY OFFSET BY INFLATION OF 6.0% AND 3.6% DEPRECIATION OF RAND

* RHODES FOOD GROUP HOLDINGS LTD - COVID-19 OUTBREAK HAS NOT IMPACTED ANY OF RFG’S MANUFACTURING FACILITIES

* RHODES FOOD - SUFFICIENT RAW MATERIAL STOCK COVER FOR 9 TO 12 WEEKS ON IMPORTED MATERIALS SHOULD INTERNATIONAL SUPPLY CHAINS BE DISRUPTED

* RHODES FOOD - EXPECTS A SLOW RECOVERY OF VOLUMES INTO CHINA FROM AROUND MID-YEAR Source text for Eikon: Further company coverage:

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