Rhodes’s high-value exports get a boost from a weaker rand
The listed food producer says group turnover for the year to end-September is expected to increase 8.2%
Food producer Rhodes Food Group, which owns Bull Brand and Bisto, gained the most in nearly three weeks on Monday, after the weaker rand and exports of high-value products to the US boosted its performance in the year to end-September.
Exports countered the lower margins in the long-life category in the company’s regional segment, which is made up of SA and the rest of Africa. The regional business is susceptible to low economic growth in SA and diminishing disposable income of local consumers.