Pioneer Food Group Ltd. provided earnings guidance for the six months ended 31 March 2017. The company reported operating profit before items of a capital nature, adjusted for the impact of the Phase I B-BBEE share-based payment charge and the marked-to-market effect of the related hedge amounting to a net cost of ZAR 3.1 million and once-off merger and acquisition costs of ZAR 9.3 million, is expected to decrease by between 40% and 45% from the ZAR 1,236 million as reported for the six months ended 31 March 2016, adjusted headline earnings per share, adjusted for the aforementioned BEE SBP and once-off M&A costs is expected to be between 242.2 cents and 267.0 cents per share compared to the 479.3 cents per share for the prior corresponding period, being a decrease of between 44% and 49%, headline earnings per share is expected to be between 233.0 cents and 261.5 cents per share compared to the 556.4 cents per share for the prior corresponding period, being a decrease of between 53% and 58%, and earnings per share is expected to be between 234.0 cents and 262.5 cents per share compared to the 560.1 cents per share for the prior corresponding period, being a decrease of between 53% and 58%.