PIONEER Foods, SA’s second-largest producer of staple foods such as bread, rice, maize meal, and cereals, warned on Monday that achieving growth in the current economic environment would be difficult, with most consumers expected to remain squeezed for cash.Pioneer Foods, whose staple brands include Sasko bread, Spekko Rice, White Star maize meal, and Bokomo cereals, reported revenue growth on Monday of 9% to R10.01bn for the six months to March 31.However, the fortunes of smaller manufacturer Rhodes Food Group, which caters for an upper middle-class niche market with more financial muscle, appeared more promising.Rhodes Foods, which listed on the JSE in 2014, also reported results on Monday. Its revenue had accelerated 54% to almost R2bn for the half-year to March, resulting in it nearly doubling its aftertax profit to R110m, the company said.Rhodes Foods produces canned fruit and vegetables under its own brand, canned meat under the Bull Brand label, and ready-made meals and pies....
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.