How Tiger Brands got its claws back
Despite difficult trading conditions ‘with no end in sight’, headline earnings are up under the company’s new CEO
A lot was expected of Lawrence MacDougall when he succeeded Peter Matlare as CEO of an embattled Tiger Brands last March. And confidence in the veteran of 40 years in the fast-moving consumer goods market (FMCG) has proved to be well-founded. "He has brought the vigour and discipline of multinationals to Tiger," says company CFO Noel Doyle. MacDougall has worked for a number of multinationals, including US confectionery giant Mondelez, the company he left to join Tiger. He could hardly have picked a tougher time to join the company."In my 22 years in the FMCG game I have seen deeper market troughs, but they were short-lived," says Doyle. "This time we are facing consistently difficult trading conditions with no end in sight." Against this background, MacDougall’s influence shows in Tiger’s results in its year to September. A rise of 2% in headline earnings to R3.51bn does not tell the full story. A number of factors restricted headline earnings growth, including the previous year’s ...
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