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Press Release

Voluntary Trading Statement

PFG - Pioneer Food Group Limited - Voluntary Trading Statement
PIONEER FOOD GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1996/017676/06)
JSE share code: PFG
ISIN: ZAE000118279
("the Company" or "Pioneer Foods")
VOLUNTARY TRADING STATEMENT

Pioneer Foods hereby advises that a reasonable degree of certainty exists that earnings for the 6 months ended 31 March 2009 will be as follows:
Headline earnings between 163 to 172 cents per share (2008:144.0 cps) or between 13% and 19% higher; and Earnings between 164 to 173 cents per share (2008:144.9 cps) or between 13% and 19% higher.
A prime contributor is the Sasko business, which achieved an improved operating margin for the reporting period with stronger than expected sales, particularly in March 2009. In addition, the comparative period was negatively affected by the delayed recovery of increased raw material costs as well as the once off commissioning costs to upgrade baking facilities, which are now contributing improved sales revenue.
Indications are that food inflation will moderate towards the end of the year though upward cost pressures are persisting. A more stable food pricing environment should contribute to an improved performance for the full year. The results for the 6 months ended 31 March 2009 will be announced on or about 25 May 2009.
This trading update has not been reviewed or reported on by the company's external auditors.
Paarl
29 April 2009
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 29/04/2009 07:15:02 Produced by the JSE SENS Department.
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