Food producers may be ripe for M&A moves
Nothing is immune to opportunities and deals may be simmering under the sector’s unappetising surface
29 June 2023 - 08:00
Investors in the JSE’s food producers index have had a serious case of indigestion.
The food index year to date is down 16%, while the all share index is ahead 3.3% at the time of writing. On a three-year basis the food sector is even more sickly, declining 10% versus a 47% increase in the Alsi. Much of this underperformance has been led by rising distribution and input costs of raw materials which — with the implementation of erratic load-shedding — have hit profit margins of all food stocks...
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