Tiger Brands falls after revised profit warning
By Karl Genertzky - Nov 9th 2018, 14:25
JSE-listed food producer Tiger Brands — owner of Enterprise, Mrs Balls and Oros — revised the upper limit of its decline in headline earnings for the year to end-September, but its share price gave up ground anyway.
The group said headline earnings per share (HEPS) was expected to fall by between 25% and 30% during the period, a revision from the 22% to 37% range it forecast earlier in September.
Tiger Brands has cited cost increases due to currency movements, fuel price increases, labour settlements and higher administered costs.
It is also still grappling with the fallout from the listeriosis crisis, which prompted the closure of meat packaging plants countrywide.
At 10.20am on Friday's the group's share price was off 2.53% to R273, having given up 40.23% so far in 2018. The group's results are expected on November 22. Business Live
Mr Price rethinks international strategy after leaving Australia
03/06/2019 - 13:52
Mr Price Group’s new CEO wants the retailer to take a new approach to offshore growth after the group pulled the plug on its fledgling Australian business and as it considers doing the same in Poland.
South Africans are spending less on their weekly shopping trip
23/05/2019 - 09:44
Tiger Brands, which carries brands including Koo canned foods, All Gold, and Tastic rice, said that revenue from continuing operations fell 2% to R15.4 billion in the interim period.
Tiger Brands reports lower sales in wake of the listeriosis crisis
22/05/2019 - 09:29
Tiger Brands, which was named as the culprit in the 2018 listeriosis outbreak, says sales in the six months to end-March edged lower because of a slump in processed-meat sales and weak revenues from outside SA.
Pioneer Foods’ shares plunge to six-year low on earnings decline
20/05/2019 - 16:24
Shares in Pioneer Foods, which makes Sasko bread and Ceres juice, plunged to a six-year low after the group said it was struggling to pass on higher costs to consumers.
Dischem's employee strike costs it more than 75m
16/05/2019 - 08:31
Dis-Chem Pharmacies says a strike by employees that lasted nearly five months shaved up to R76.4m off its profits in the year to end-February.