Tiger Brands full-year earnings up 7%
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.
Nigeria inflation hits new five-year low
20/09/2013 - 09:07
Abuja - Nigeria's year-on-year consumer inflation fell to 8.2% in August, lower than July's 8.7% figure, the statistics bureau said on Tuesday, and touching a new 5-year low.
Imperial Logistics achieves pleasing results
22/08/2013 - 12:24
Johannesburg, 21 August 2013 – Imperial increased its revenue in its logistics businesses to R34 billion for the financial year ending 30 June 2013, achieving 21% growth. The European and African Divisions contributed almost equally, with revenue from African countries outside South Africa contributing almost 15% to total revenue.
Look & Listen to re-launch digital music store
09/07/2013 - 08:28
SA music retailer Look & Listen is set to re-launch its digital music store, five months after it halted online purchases on the platform.
Foreign investment in SA drops
27/06/2013 - 11:04
Johannesburg - Foreign direct investment (FDI) flows into South Africa decreased by 24% between 2011 and 2012, according to the United Nations Conference on Trade and Development (Unctad).
Carrefour teams up with CFAO for African expansion
03/06/2013 - 09:48
French retail giant Carrefour SA said Wednesday it has teamed up with African distribution company CFAO to expand its presence in Africa, as the grocer seeks to reinforce the global footprint of its name.