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Clover sees first-half profit rise
Clover sees first-half profit rise

Clover sees first-half profit rise

MARKETING NEWS - Feb 11th 2015, 09:42

Diversified dairy producer Clover said on Tuesday it expects headline earnings per share for the six months to end December to increase by between 36% and 46%. 

Clover said it benefited from selling price increases across most categories. However, it did experience a drop in sales volumes and market share.

Selling prices remained firm throughout the annual peak milk-production period as industry inventory levels were being restored following the national shortage of raw milk during the winter of 2014, it said.
Clover said gross and operating margins improved as a result.

Revenue for the period under review increased by 11% if the phasing out of raw milk sales at cost to former subsidiary Danone was excluded. This agreement ceased on December 31 2014. Overall sales volumes declined by 3.3% following the increase of selling prices.

Farm gate milk prices remained high in relation to on-farm costs, Clover said.

The group expects to release its results on March 17.

From DFM Publishers (Pty) Ltd 

Read more about: milk | dairy | clover

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