RCL Foods warns of profit drop and writedowns due to Covid-19
Headline earnings per share for year to end-June will fall at least 30%, Rainbow Chicken owner says
08 June 2020 - 09:42
RCL Foods, which owns Rainbow Chicken and Selati Sugar, has warned of a drop in profits and writedowns of its businesses as Covid-19 hits SA’s food industry.
Headline earnings per share, a widely used profit measure in SA that strips out one-off items, will fall at least 30% in the group’s year to end-June, from 37.9c in the prior comparative period...
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