Tiger Brands bosses cash in after failure
09/01/2017 - 08:49
Months after taking a R2.2bn write-down on its disastrous Nigerian acquisition, Tiger Brands’ remuneration committee raised the fees of the directors who had overseen the decision to invest in the value- destroying Dangote Flour Mills.
Tiger Brands’ profit trebles after ditching the Dangote millstone
23/11/2016 - 15:39
Tiger Brands reported aftertax profit of R3.3bn for the year to end-September — 3.5 times higher than the previous year’s R942m, which was dragged down by a R2.2bn write-down of its Nigerian acquisition Dangote Flour Mills.
Tiger sees SA consumers under pressure as costs rise
19/07/2016 - 12:42
Johannesburg - Tiger Brands said the risk of higher inflation will place pressure on South African consumers as the nation’s biggest food producer is raising prices to try to offset cost pressures following record maize prices.
Tiger says exit from Ethiopia does not signal a retreat from the rest of Africa
10/06/2016 - 12:09
Food producer Tiger Brands on Thursday pulled the plug on a second major African market, with the sale of its stake in an Ethiopian business — less than six months after it disposed of a Nigerian venture.
Major overhaul on the cards for Tiger Brands
25/05/2016 - 15:53
Johannesburg - South Africa's biggest consumer foods maker, Tiger Brands, pledged a sweeping overhaul of its operations on Tuesday, after a botched investment in Nigeria and mounting difficulties in its home and exports markets force a re-think.
Tiger Brands’ immunity queried
04/04/2016 - 10:46
The long-running probe into the milling cartel on Thursday encountered an obstacle that could strip Tiger Brands of the immunity it received from the Competition Commission for providing information on maize price fixing.
Tiger Brands rallies on new CEO
09/03/2016 - 16:16
Johannesburg - Tiger Brands appointed Lawrence Mac Dougall from Mondelez International as the new chief executive officer of South Africa’s largest food producer following the resignation of Peter Matlare last year. Its shares rose.
Price of imported rice declines - Ghana
22/02/2016 - 09:39
For the third week of February, imported rice recorded the highest drop of twenty percent.
SPCA lays into Tiger Brands
17/02/2016 - 09:46
Johannesburg - Tiger Brands, South Africa’s biggest food company, has had criminal charges laid against it by an animal-rights group over a pig slaughter method that involves the animals being gassed to death in cages after being lowered into a pit.
Drought weighs on Pioneer
15/02/2016 - 10:24
Johannesburg - Pioneer Foods Group said a drought in South Africa is weighing on earnings as soaring grain prices hit volumes and margins at the country’s second-biggest food maker.
Tiger pulls out of costly Nigerian unit - Nigeria
17/11/2015 - 09:50
Tiger Brands said on Monday it would cut funding to its struggling Nigerian venture after nearly R1bn in write-downs.
Bread market ‘competitive’ in KwaZulu-Natal and Western Cape
13/03/2015 - 11:48
The bread market in KwaZulu-Natal and the Western Cape has become "very competitive" on prices, according to Tiger Brands, which owns the Albany brand.
Recovery at Dangote set for delay - Nigeria
12/02/2015 - 09:26
The depreciating oil price and Nigerian naira, and postponed presidential elections in the West African country, could delay the recovery of Tiger Brands’ Nigerian business by 6-12 months, CEO Peter Matlare said in a conference call on Tuesday.
Tiger Brands’ business widens losses - Nigeria
05/02/2015 - 09:11
Tiger Brands’ Nigerian flour business reported a widened loss of 2.92-billion naira (about R176m) for its first quarter ended December, as currency weakness in the local market offset a 27.5% surge in sales.
Tiger learns from mistakes in Nigeria
09/12/2014 - 09:52
Tiger Brands has not been put off buying businesses of scale and its rest-of-Africa strategy has been unaffected by its bad experience in Nigeria, CEO Peter Matlare says.
Investment in Africa ‘must be for the long term’
20/11/2014 - 10:43
A long-term approach must be taken to reap returns from investments in Africa, Thabi Segoale, group executive of corporate strategy and business development at Tiger Brands, said on Tuesday.
Tiger Brands unit invests $8.3m capex in Zim - Zimbabwe
05/11/2014 - 09:33
Harare – Zimbabwe's National Foods, which is 37% controlled by Tiger Brands [JSE:TBS], is to sink US$8.3m in capital expenditure for 2015 largely to expand its flour milling unit, whose contribution to a 6% jump in first-quarter revenues has made it a significant cash generator for the company.
Tiger Brands plans to destroy recalled products
23/10/2014 - 10:19
Tiger Brands will destroy the 17,000 packs of Tastic Simply Delicious sauces and ready-to-eat rice products it is removing from retailer shelves, managing executive Naresh Singh said this week.
Tiger Brands: Grain unit recalls some products
20/10/2014 - 12:07
Tiger Brands’s grains division had recalled certain Tastic Simply Delicious products after tests found traces of colourants in them, the company said.
Rhodes Food raises R1.2bn ahead of IPO
30/09/2014 - 10:13
Johannesburg - Rhodes Food Group raised R1.2 billion in an initial public offering (IPO) priced in the middle of an earlier indicative range, it said on Friday.
Clover profit falls as costs bite
16/09/2014 - 12:56
Johannesburg - South African food and beverage firm Clover Industries Ltd posted a 14.2 percent fall in headline earnings on Tuesday, clipped by brisk inflation levels and higher raw material costs.
Tiger Brands wary of African assets after Nigerian misadventure
26/05/2014 - 10:26
It's investment in Nigeria had taught Tiger Brands not to be hasty when pursuing growth opportunities in Africa, group CE, Peter Matlare, said on Wednesday as the company released its interim results.
Tiger Brands takes huge Nigerian knock
16/05/2014 - 09:24
Johannesburg - Tiger Brands, Africa's second-biggest consumer foods maker, took a R849m ($82m) write-down on its loss-making Nigerian business last week Thursday.
Tiger Brands profit rises as bakeries, rice volume recovered
31/05/2013 - 08:22
Tiger Brands Ltd. (TBS), South Africa’s biggest food maker by market value, said the company regained volume in bakeries, rice and snacks and treats and maintained profit margins across many of its domestic businesses.
Imperial takes African logistics leap with acquisition of Nigeria’s MDS
14/05/2013 - 08:18
Imperial Holdings has gained a foothold in Nigeria’s fast-growing logistics market with the acquisition of a 49 percent stake in leading Nigerian provider MDS for $26 million (R237m) in cash.
Pioneer Foods appoints new chief
25/02/2013 - 08:52
Johannesburg - South Africa's Pioneer Foods on Friday named a veteran executive from its main rival as its next chief executive, sending shares of the bread and cereal maker higher.
Tiger Brands buys Mrs Ball’s chutney brand for R475m
10/12/2012 - 09:21
Unilever South Africa will sell its Mrs HS Ball’s chutney brand, with a recipe dating from World War I, to Tiger Brands for R475 million.
Tiger Brands to up stake in Nigeria
22/11/2012 - 08:47
Johannesburg - Consumer goods group Tiger Brands [JSE:TBS] is offering to buy out some minority shareholders in Nigeria's Dangote Flour Mills as it expands in fast-growing African markets.
Tiger Brands full-year earnings up 7%
21/11/2012 - 08:06
Joahnnesburg - Consumer goods firm Tiger Brands [JSE:TBS] posted a 7% rise in full-year earnings on Wednesday, helped by higher prices, but said it expects a tough year ahead.
Tiger Brands buys 63% Dangote Flour
05/10/2012 - 07:46
Nigerian billionaire Aliko Dangote on Thursday sold 63 percent of Dangote Flour to South African consumer goods firm Tiger Brands in a deal worth $188 million, brokers said.
Tiger Brands acquires a 63.35% shareholding interest in Dangote Flour Mills in Nigeria
25/09/2012 - 08:54
Tiger Brands Limited (“Tiger Brands”) and Dangote Industries Limited (“Dangote”) are pleased to announce they have executed a share sale and purchase agreement which will result in Tiger Brands acquiring a 63.35% shareholding in Dangote Flour Mills Plc (“Dangote Flour Mills”) for approximately R1.5 billion from Dangote. The transaction is expected to be effected during the first week of October 2012.
India prepares tough drought measures
31/07/2012 - 08:16
New Delhi - Indian ministers will meet on Tuesday to discuss measures to deal with a feared drought, including curbs on commodity derivatives, extra subsidies to farmers and the distribution of seeds, but are not expected to ban farm exports.
More food, beverage mergers expected
24/07/2012 - 09:09
Grant Thornton said yesterday it was positive about increased merger and acquisition (M&A) activity in the food and beverage sector, as conditions seem ripe for investors looking to expand.
Dangote surges on Tiger Brands deal
06/07/2012 - 08:17
Shares in Dangote Flour Mills climbed to their highest level in five weeks, after South Africa's biggest consumer foods maker Tiger Brands said it had reached a deal to acquire a majority stake in the Nigerian wheat and pasta maker, helping lift the overall stock index to a month high.
Tiger Brands buys into Nigerian flour maker
05/07/2012 - 09:26
Tiger Brands, South Africa’s largest food producer, has reached an agreement in principle with Dangote, the West African manufacturing group, to purchase 63,35% of the Nigerian flour and pasta maker Dangote Flour Mills (DFM).
Tiger Brands ups first-half earnings
22/05/2012 - 08:31
Johannesburg - South African consumer goods firm Tiger Brands [JSE:TBS] posted a modest rise in first-half earnings on Tuesday, helped by growth in its exports and international businesses as the domestic market remains subdued.
Nigerians in talks with Tiger Brands
08/05/2012 - 08:39
Tiger Brands yesterday confirmed it was in talks with Nigeria’s flour milling company Dangote Flour, a deal that one analyst said could be valued at at least $150m if 80% of the shares were acquired at the market capitalisation of the Nigerian company.
Slowdown in spending hits Pioneer Foods
19/03/2012 - 08:53
Pioneer Foods said in a trading update on Friday that revenue rose 13% in the five months to the end of February, but volumes fell by an average 4%-6% in the group’s product basket on lower consumer spending.
US forecasts easing in food prices
24/02/2012 - 09:48
Arlington - Global crop prices will retreat sharply this year as farmers around the world expand production, bringing stability back to commodity markets and easing food inflation fears, the US government forecast on Thursday.
Tiger Brands' underlying assumptions for update
20/02/2012 - 08:54
Tiger Brands, in trading update on Feb 14, 2012, advised that, despite difficult trading conditions, headline earnings per share were expected to show satisfactory growth for the year ending 30 September 2012 as compared to the 2011 reported earnings.
Weaker economy dampens food prices
01/02/2012 - 07:37
Washington - Global food prices are set to decline further in 2012 as a weaker world economy dampens consumer demand while food supplies rise, the World Bank said on Tuesday, warning that a possible rise in oil prices could reverse the trend.
Tiger chair steps down
18/01/2012 - 08:47
Johannesburg - Tiger Brands [JSE:TBS] announced on Tuesday that its chairperson and director, Lex van Vught, will step down with effect from next month.
Smaller companies provide bonanza
11/01/2012 - 09:40
Small caps starred on the JSE last year, with the AltX 15 showing the best performance of indices with more than one share, with a total return for the year of 42,6%.
SA retailers look to rest of Africa
20/12/2011 - 09:18
As competition intensifies in SA, local retailers have looked offshore for growth and many have also understandably set their eyes on the rest of Africa.
Tiger Brands acquires canning firm
19/12/2011 - 12:12
Johannesburg - Diversified industrial group Tiger Brands [JSE:TBS] on Monday announced the acquisition of the remaining interests in Langeberg and Ashton Foods.
Tiger Brands still looking hard at Africa
24/11/2011 - 09:02
TIGER Brands , SA’s largest food producer, was still "looking hard" for acquisitions in Africa, CEO Peter Matlare said yesterday, even after the company spent R2,1bn on the continent last year.
Tiger Brands lifts earnings
23/11/2011 - 08:27
Johannesburg - South African consumer goods firm Tiger Brands [JSE:TBS] posted a 13% increase in full-year earnings on Wednesday, helped by higher sales but said it anticipates a tough trading environment ahead.
Tiger Brands forecasts higher profits
15/11/2011 - 10:23
Branded fast-moving consumer packaged goods company Tiger Brands (TBS) said on Tuesday that it expected headline earnings per share (HEPS) to reflect an increase of between 10% and 15% for the year ended September 2011, from R13.93 previously.
Tiger Brands profit up, still on the prowl
30/05/2011 - 07:48
Johannesburg - Consumer goods firm Tiger Brands posted a rise in first-half earnings on Monday and said it would further increase its footprint outside South Africa after it finalised acquisitions in Nigeria and Ethiopia.
Tiger Brands appoints new CFO
12/04/2011 - 00:00
Tiger Brands has appointed Olufunke Ighodaro as its new Chief Financial Officer (CFO) with effect from 1 June 2011.