https://www.engineeringnews.co.za

Tiger Brands says FY earnings to fall as much as 30%

9th November 2018

By: Reuters

  

Font size: - +

Tiger Brands expects full year headline earnings per share to fall between 25% and 30% compared with the previous year, the food group said on Friday, sending its shares 3% lower.

In August, the company had forecast headline earnings per share, excluding costs from a disposal of its Haco business in December 2017, of between 22% and 37%.

Headline earnings per share strips out certain once-off items and is the main profit measure used in South Africa.

The company's earnings for the year to the end of September were impacted by a product recall in response to a deadly listeria outbreak in South Africa.

Tiger Brands said headline earnings per share, excluding Haco, were expected at between 539c and 647c per share versus 2 155c a share in the same period last year.

Tiger Brands said in May that a recall of cold meat products in response to a deadly listeria outbreak cost it R365-million ($29-million), which weighed hit its half-year earnings.

Its shares fell 3.11% to 271.38 rand by 0950 GMT.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Monitor Distributors
Monitor Distributors

We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.054 1.405s - 122pq - 2rq
Subscribe Now