Clover sees first-half profit rise
bdlive.co.za - 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
Clover, Milco merger puts 657 jobs on the line
17/09/2019 - 10:05
A total of 657 existing jobs will be on the line at Clover Industries in the next two years if the R4.8 billion merger between the JSE-listed dairy company and Israel-based Milco is approved by the Competition Tribunal.
Clover's R4.7bn deal gets Competition Commission nod
22/07/2019 - 10:12
The Competition Commission has approved, with conditions, the R4.8bn sale of branded foods and beverages group Clover Industries to a consortium led by Tel Aviv-based Central Bottling Company, Clover said on Friday.
Clover set to return to profit in year to June
13/05/2019 - 10:15
Clover, which makes dairy-based foods and beverages, says it will return to profit in the year ending June 2019 after making its first annual loss in more than a decade in the prior year.
SA dairy exports doing well
16/04/2019 - 15:42
Dairy imports for February were 4 110 tons at a cost of R172 million. South Africa imported mainly from France (28%) New Zealand (28%), Germany (13%), Poland (8%) and Ireland (4%). Dairy imports for this year are low compared to last year, largely due to limited UHT imports. The main dairy products imported in February were whey (34%), milk powder (22%) and cheese (18%). UHT as a percentage of total imports was less than 1%.
Brimstone confirms exit from Clover deal
12/04/2019 - 10:01
Brimstone Investments confirmed that it will not be participating in a consortium seeking to acquire SA’s biggest dairy producer Clover, but had agreed on a plan to facilitate its exit.