RFG expects headline earnings to rise by nearly 50% in first half
The food group says reduced debt costs and favourable currency effects offset lower turnover for the period
RFG Holdings, which has products that include Bull Brand corned beef, Hinds spices and Bisto gravies, says reduced debt costs and favourable currency effects offset lower turnover and restructuring expenses in its half-year to March 28.
RFG, formerly known as Rhodes Food Group, expects headline earnings to rise by between 44% and 49% to March 28, an increase of as much as R40m. This is despite a 3.4% fall in turnover, or about R100m, with the same period in the prior year seeing a boost in demand ahead of SA’s hard lockdown. ..