It has been exactly a year — March 4 2018 — since Tiger Brands was named as the culprit in the listeriosis outbreak. And while the group has relaunched its value-added meat-products business, its shares are still about 37% lower than they were 12 months ago. Tiger Brands’s shares plunged in the days after health minister Aaron Motsoaledi announced that polony and products from an Enterprise Foods factory were the source of the deadly outbreak. The stock, which was trading at R425 when the announcement was made, dipped below the R250 mark by October 2018. It has since recovered slightly, closing at R266.68 on Friday. At these levels, JP Morgan rates Tiger Brands a “buy”, even though the group is bracing for a class-action lawsuit. The US bank said in a report in February, when Tiger Brands published a trading update, that it expected the stock to recover to R314 by the end of 2019. In its update, Tiger Brands said group revenue from continuing operations in the four months to end-Jan...

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.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.