Advertise with fastmoving.co.za
 
 

Sales in SA and the rest of Africa also grew strongly, though lower-margin products were in favour among embattled local consumers.
Sales in SA and the rest of Africa also grew strongly, though lower-margin products were in favour among embattled local consumers.

Weaker rand boosts Rhodes Food Group

RETAILER NEWS

By Karl Gernetzky - Nov 6th, 09:48

The international turnover of Rhodes Food Group, which makes Bull Brand corned meat and Bisto gravies, grew 8.8% in its year to end-September boosted by a weaker rand and exports of higher-value products to the US. 

Sales in SA and the rest of Africa also grew strongly, the company said, though lower margin products were in favour among SA’s embattled consumers.

International turnover benefited from a 7.7% depreciation against the group’s major traded currencies, it said, as well as higher-margin goods such as fruit snacks.

Margins in the group’s regional business were under some pressure, with the lower-margin long-life category growing 9.1% while fresh-food turnover grew 6.7%.

The company expects “strong” profitability for the period, with headline earnings expected to rise 30%-45% compared with the R159.1m reported previously.

The group’s share price was 4.42% to R16.08 on Monday, paring its year-to-date loss to 10.22%.Business Live  

Read more about: turnover | sales | rhodes food group | retail | rand | exports

Related News

Checkers brings world-class retail to Constantia with new flagship store
27/11/2019 - 13:01
Checkers has opened the doors to its state-of-the-art 2 330 m² flagship supermarket at the Constantia Emporium as the retailer continues to take innovation to new heights.

Woolworths carves out market share in SA
27/11/2019 - 10:11
In Australia, David Jones's sales declined 2.1%, with the company saying a store refurbishment contributed to the decline.

Push and pull strategies work together to keep consumers coming back for more
26/11/2019 - 10:20
The retail sector is under increasing pressure as consumers have shrinking disposable income in a strained economy. Maintaining share of wallet is critical. Relying solely on a push route to market strategy from manufacturers into retailers is not enough to get consumers buying products. A pull strategy needs to coexist with the push to drive brand consumption. Integrating these strategies requires intelligent and insightful decision-making. This, in turn, requires data generated through smart technology which provides line of sight across the value chain from manufacturer to distribution, retailer to the consumer.

Exclusive leases must fall: Commission cracks whip on Shoprite, Pick n pay, Spar, Woolies
26/11/2019 - 09:57
The Competition Commission Inquiry into Grocery Retail, published on Monday, called for an end to the exclusive leases negotiated by national retail chains in all shopping malls across the country in a bid to open up access to markets for smaller players.

Today’s customers are loyal to speed and convenience, not brands
25/11/2019 - 11:15
Consumer expectations are rapidly shifting as technologies such as mobile, geolocation, social media and increasingly, Internet of Things devices and wearables, connect people to a world of easily accessible information and convenient services. With the ability to browse, compare and order with a few swipes and taps, consumers are becoming trained to value convenience and service above nearly anything else.