JSE-listed Rhodes Food Group expects its headline earnings for the financial year ended September 29 to be between 35% and 40% higher than the R159.1-million reported for the 2018 financial year.
The company on Monday said good revenue growth, together with the expansion of gross profit and operating profit margins, had contributed to a strong increase in profitability for the year.
Earnings also benefited from an income tax rebate of R10-million relating to capital projects, it noted.
Rhodes expects its headline earnings a share to increase by between 31% and 36% year-on-year to between 82.5c and 85.7c, while earnings a share are expected to increase by between 32% and 37% year-on-year to between 80.7c and 83.7c.
The company will publish its results for the financial year on November 19.