Fast moving consumer goods group Tiger Brands on Thursday reported a 7% increase in interim headline earnings per share (HEPS) to R10.36 for the period to end-March. The company declared a dividend of R3.78 per share, an increase of 4% from the previous comparable period. Group operating profit was up 10% to R2.2bn. The company said a strong domestic performance was partially diluted by "tough trading conditions in exports" and its international business, coupled with a "decline in income from associates". Group turnover from continuing operations increased 7% to R16.4bn. The company’s overall volumes declined 3% and it attributed its growth in turnover to, in part, an increase in prices. © Business Day
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