Tiger Brands expects higher H1 earnings
Branded food, home and personal care products manufacturer Tiger Brands expects to report earnings per share (EPS) of between R10.23 and R10.65 for the six months ended March 31, a 23% to 28% improvement on the EPS of 832c reported for the six months to March 2015.
Headline earnings per share (HEPS) were expected to be R9.60 to R10.02, a 12.5% to 17.5% improvement on the HEPS of 853c reported in the prior comparative period.
Tiger Brands on Tuesday said its results for the period under review were “solid”, with a 9% increase in turnover and 7% increase in operating income from continuing operations, notwithstanding the significant cost push experienced from rand weakness and the effects of the drought on soft commodity prices, particularly within its Grains division.
The group had sold its 65.7% interest in the lossmaking Nigerian Tiger Branded Consumer Goods (TBCG) business, previously known as Dangote Flour Mills, in February.
When excluding TBCG, Tiger Brands’ EPS for the six months under review were likely to be between R10.02 and R10.49, a 5% to 10% improvement on the EPS of 954c recorded in the prior comparative period.
HEPS from continuing operations, excluding TBCG, were likely to be between 951c and 999c or between 2.5% lower and 2.5% higher than the 975c reported for the prior comparative period.
The group would release its interim results on May 24.
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