RCL interim earnings to drop as load-shedding intensifies
Rainbow Chicken and baking divisions were hit by higher input costs, which many firms are loath to pass on to consumers as they bid to protect sales
02 February 2023 - 17:14
RCL Foods, which makes Nola mayonnaise, Yum Yum peanut butter and Ouma rusks, says headline earnings for the half-year to end-December will be at least 20% lower than the prior period due to load-shedding and higher commodity prices and packaging costs.
The company expects headline earnings per share (Heps) to be 53.2c-58.1c, compared with 72.7c in the same period a year earlier, with its baking and poultry divisions (Sunbake bread, Supreme Flour and Rainbow Chicken) hit hardest. ..
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