Listeriosis hits Tiger Brands' meat trade
The value-added meat products business reports poor performance in the six months to end-March
As the deadly listeriosis outbreak loomed large over Tiger Brands’ first-half performance, lawyers representing victims of the disease on Wednesday said more potential claimants had reached out to them. Tiger Brands, SA’s largest food producer with a market capitalisation of R43.7bn, is reeling from the effect of the listeriosis outbreak which left more than 200 people dead. As a result of the outbreak, the owner of the Enterprise, Bokkie and Oros brands recalled ready-to-eat processed meats such as polony and Viennas and closed four meat processing facilities. The listeriosis and the sale of the firm’s 49.1-million shares in listed fishing company Oceana Group were the main factors in the 12% drop in Tiger Brands' headline earnings per share. Tiger Brands’ value-added meat products (VAMP) business, which had to shut factories in the aftermath of the outbreak in March 2018, reported a R296m operating loss.
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