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Tiger Brands full-year earnings up 7%
FMCG SUPPLIER NEWS
Fin24 - Nov 21st 2012, 08:06
Joahnnesburg - Consumer goods firm Tiger Brands [JSE:TBS] posted a 7% rise in full-year earnings on Wednesday, helped by higher prices, but said it expects a tough year ahead.
The maker of bread, breakfast cereal and energy drinks said diluted headline earnings per share for the year to end September totaled to 1 654.2 cents from 1 545c last year.
Headline earnings, the main profit gauge in South Africa, exclude certain one-off items.
The company said revenue rose 11% to R22.7bn.
Tiger Brands has been ramping up its expansion in fast-growing African markets and last year increased its footprint outside its home base with acquisitions in Nigeria and Ethiopia.
The company this year purchased a majority stake in Nigeria's Dangote Flour Mills in its third and biggest deal yet in Nigeria.
Tiger Brands said it expected 2013 to be a challenging year as consumers remain under pressure.
It declared a final dividend of 555c per share.
Tiger Brands shares have gained 11% so far this year, lagging a 16% rise in the benchmark Top-40 index.
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