Constrained consumers battered by interest rate hikes and a cost-of-living crisis are cutting back on foodstuffs and non-essentials such as tomato sauce, baked beans and mayonnaise, Tiger Brands results for the six months to end-March showed.

SA’s largest food producer posted weaker results and warned of tough times ahead, sending its share price into a tailspin. The share closed 16.83% lower at R157.82 on Tuesday, the largest fall since 2008...

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