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Trading Statement for the six months ending 30 September 2026, Fruit Processing Western Cape and General Share Repurchase Update
PREMIER GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2007/016008/06)
ISIN: ZAE000320321
Share Code: PMR
(‘Premier’ or ‘the Group’ or ‘the Company’)
TRADING STATEMENT FOR THE SIX MONTHS ENDING 30 SEPTEMBER 2026, FRUIT PROCESSING WESTERN CAPE AND GENERAL SHARE REPURCHASE UPDATE
TRADING STATEMENT
Premier will be releasing its results for the six months ending 30 September 2026 (‘H1-FY2027’) on the Stock Exchange News
Service (“SENS”) on or about 10 November 2026. Furthermore, Premier representatives will be attending the 2026 RMB
Morgan Stanley Off Piste Investor Conference on 16 and 17 September 2026, where meetings will be held with numerous
investors.
In accordance with paragraph 6.26 of the JSE Listings Requirements, a company is required to publish a trading statement as
soon as it is reasonably certain exists that its financial results for the period to be reported on next will differ by at least 20%
from the financial results reported for the prior comparative period.
Premier accordingly advises shareholders that it expects its financial results for H1-FY2027 to differ by 20% or more compared
to the results for the six-month period ended 30 September 2025 (‘H1-FY2026’). Accordingly, shareholders are advised of the
following expected ranges:
Reported H1-FY2026 Expected Range H1-FY2027 Expected Increase
(cents) (cents) (%)
Earnings per share (‘EPS’) 558 681 - 736 22 – 32
Headline earnings per share (‘HEPS’) 560 683 - 739 22 – 32
Weighted average number of shares 129m 164m 27
Premier’s revenue is expected to increase by between 35% and 45%, following the acquisition of RFG Holdings Limited
(“RFG”), which was completed on 30 March 2026. As part of the acquisition, Premier issued an additional 37 537 431 ordinary
shares. The RFG business has subsequently been integrated into the Group as the Premier Culinary division, and the benefits
of operating as a combined business have begun to deliver the expected financial performance.
Volume growth across various categories has translated into a notable uplift in operating earnings, supported by improved
efficiencies and consistent operational execution. Sustained capital investment across the Group’s diverse asset base, focused
on manufacturing excellence, the development of our people and maintaining highly efficient logistics and distribution
channels, continues to deliver tangible growth.
Following the commissioning of the new Aeroton bakery in March 2026, Premier commissioned a new bakery in Middelburg
in September 2026, with a capacity of 8 000 loaves per hour. The new facility replaces Premier’s smaller, ageing bakeries in
Potchefstroom and Vereeniging and will service the eastern region of South Africa, while the Waltloo and Aeroton mega-
bakeries will supply the remainder of the inland region.
Premier continues to invest significantly in our people, our facilities and infrastructure, with construction and installation
activities currently underway at more than 10 sites across the Group’s manufacturing and distribution footprint.
The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s
external auditors.
FRUIT PROCESSING WESTERN CAPE
In July 2026, the Premier Culinary division completed a comprehensive assessment of the dire economic prospects of the
global fruit-canning industry. The industry has been in long-term decline, with canneries closing globally as demand for canned
fruit products has dramatically decreased.
Against this backdrop, the export prospects of the Fruit Processing Western Cape (“FPWC”) business, which exports
approximately 90% of its production, have deteriorated rapidly to the point where the facility is no longer economically viable.
Accordingly, in July 2026, the Premier Group Board decided not to reopen the FPWC facility for the upcoming fruit-harvest
season, subject to the completion of the applicable legal and regulatory processes.
The Premier Culinary division continues to engage constructively with affected stakeholders to mitigate the adverse
consequences of this decision. In particular:
1. Premier remains open to engaging with parties interested in acquiring the FPWC business as a going concern;
2. Premier has commenced a consultation process in terms of section 189 of the Labour Relations Act with 424 affected
employees;
3. Premier is in discussions with Langeberg Foods (Proprietary) Limited (“Langeberg”), the only other deciduous-fruit
cannery in South Africa, regarding the potential transfer of a significant portion of FPWC’s fruit-supply contracts. Should
these discussions result in an agreement, Premier intends to provide Langeberg with equipment to improve processing
efficiencies and facilitate the processing of additional fruit from FPWC producers;
4. Premier intends to process as much fruit as is economically viable into pulp and purée at its Groot Drakenstein facility;
5. Premier will compensate FPWC producers, in accordance with Premier’s contractual obligations, for any shortfall between
the volumes of fruit contracted for supply during the 2026/27 harvest season and the volumes processed as contemplated
above; and
6. Premier has made the FPWC facility in Tulbagh available for potential repurposing to produce alternative products for
which viable markets exist globally.
Premier’s efforts to mitigate and absorb the adverse consequences for industry stakeholders will incur financial losses for the
Group, however the Group does not expect there to be a material revision in the financial guidance provided.
Premier’s acquisition of RFG was approved by the Competition Tribunal on 6 March 2026, subject to, among other conditions,
no merger-related retrenchments being implemented for a period of three years.
The Competition Commission has received a formal complaint from the South African Clothing and Textile Workers’ Union
and is investigating whether the proposed retrenchments relating to FPWC constitute a breach of the merger conditions.
Premier is cooperating fully with the Commission and is providing all information requested as part of its investigation.
The proposed closure of the FPWC facility is solely as a result from the significant structural economic challenges affecting
the global fruit-canning industry and is thus independent of the RFG transaction.
GENERAL SHARE REPURCHASE UPDATE
On 11 November 2025, Premier advised shareholders of its intention to implement a general share repurchase programme
pursuant to the general authority granted by shareholders on 3 September 2025 (“General Authority”). The programme was
undertaken to optimise the Group’s capital structure ahead of the implementation of the RFG transaction and to offset a portion
of the future dilution arising from the settlement of the Group’s equity-settled Share Appreciation Rights.
As disclosed on SENS on 20 March 2026, Premier repurchased 1 811 992 shares during March 2026, representing
approximately 1.4% of the Company’s issued share capital as at the date of the General Authority, for an aggregate
consideration of approximately R323 million. These shares were subsequently delisted on 20 July 2026, reducing the
Company’s issued share capital to 164 631 239 shares.
During July 2026, Premier repurchased a further 1 130 612 shares, representing approximately 0.88% of the Company’s issued
share capital as at the date of the General Authority, for an aggregate consideration of approximately R207 million. Application
will be made to the JSE for the delisting of these shares in due course.
Johannesburg
15 September 2026
Sponsor
Investec Bank Limited
Date: 15/09/2026 08:00:00
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