Sugar tax leaves a sour taste at Remgro-controlled RCL
Company writes down sugar business by more than R750m
15 August 2019 - 12:39
UPDATED 16 August 2019 - 21:50
RCL Foods, which is controlled by Johan Rupert’s Remgro and is the JSE’s fourth biggest food producer by market capitalisation, has become the latest victim of the sugar tax, warning it will force a write down of more than R750m.
The write down amounts to more than double the sugar business’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) of R284.1m in the year to end-June 2018...
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