Tiger Brands saw turnover from continuing operations jump 11% to R31.7bn as group operating income rose 5% to R4.2bn in the year to September, despite what CEO Lawrence MacDougall called "one of the most challenging trading environments we’ve seen in a long time". MacDougall said on Wednesday the period had been underpinned by unpredictable foreign exchange markets, weak consumer confidence and "abnormal" raw material inflation, that was worsened by drought. "The year has been unprecedented in terms of volatility in the market," he said. "Despite this, we achieved a solid set of results from continuing operations." Headline earnings per share from continuing operations were up 2%. Total headline earnings per share rose 19%, boosted by the disposal in February of Tiger Branded Consumer Goods, formerly Dangote Flour Mills, in Nigeria.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.