JSE-listed branded consumer goods and beverages group Clover expects headline earnings a share for the year ended June 30 to be between 11.8% and 16.8% lower than the prior year’s 119.9c.
Earnings a share were likely to be between 20.7% and 25.7% lower than the earnings a share of 133.1c reported the year before.
Clover had previously indicated that a number of major factors had impacted on its financial performance for the financial year. These included a constrained trading environment, an adverse effect on sales volumes, a decline in principal volumes affecting fees earned for services rendered, rising inflation, and a shortage of raw milk supply during the last quarter of the financial year.
The company would release its results on September 16.