Tiger Brands warns of power cuts risk
Inflation and consumer resistance contribute to shock six-month results
04 June 2023 - 07:41
Food producer Tiger Brands is concerned that its suppliers do not have adequate backup electricity, increasing the risk for the group as it may not be able to secure products on time.
The maker of All Gold tomato sauce, Crosse & Blackwell mayonnaise, Albany bread, Purity and Oros this week delivered a disappointing financial performance for the six months to March, characterised by inflation of 17% across all products, consumers opting for competitors' cheaper essential groceries, and high input costs, including the rising cost of load-shedding. ..
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