Tiger Brands has not given up on long-term growth
Covid-19 has had a severe effect on the food producer, hitting its most profitable products the most
SA’s biggest food producer, Tiger Brands, which is still battling the fallout from the 2018 listeriosis crisis, says it is focusing on its long-term growth potential, even after a battering from Covid-19 resulted in a plunge of almost three quarters in its annual profit.
The coming year will be critical for convincing the market that Tiger Brands has long-term growth potential, says CEO Noel Doyle. The group is looking for “more than just a bounce back from a pretty set of dismal results,” he said, but faces a constrained economic environment where it will be tough to pass on increased costs to consumers...