Clover sets sights on opportunities in Africa
DAIRY products company Clover, although concentrated on activities in South Africa, still had a beady eye on opportunities in Africa, CE Johann Vorster said on Tuesday."We are excited about opportunities in Africa, but we are cautious, we do not want to rush into anything — we want to do it properly," he said at the release of Clover’s results for the year ended June.Mr Vorster said the main challenge in Africa remained the route to market, but the company was on the lookout for sites for its own production facilities in Nigeria."There has been a move from informal traders to formal retailers and it would be a natural market for us."It will become easier to do business in Africa as others such as Shoprite pave the way," he said.During the reporting period, consumers continued to trade down, he said.But, improved product mix and selling price increases, combined with good volume growth helped Clover increase earnings in the period.Headline earnings grew 18.6% to R207m from R175.2m in...
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