Williamson Tea Kenya reduces its half year loss despite decline in sales

KENYA – Williamson Tea Kenya and one of its associate farms, Kapchorua Tea Kenya narrowed their losses in the half year ended September and issued pessimistic forecasts for the full year ending March 2020. According […]

South African packaging company Nampak reports full year loss impacted by foreign operations

SOUTH AFRICA – Africa’s largest packaging manufacturer, Nampak, reported a loss of R390m down 132% compared to last year’s profit of R1.2bn (US$81.3m), according to its annual financial results for the year ended September 30, […]

Tiger Brands reports 17% decline in full year earnings despite growth in revenue

SOUTH AFRICA – Tiger Brands, JSE listed packaged food processor has reported a 17% decline in its headline earnings per share for the year ended 30 September 2019 to 1 349c, compared to 1 633c […]

Innscor’s first quarter revenue plunges amid tough economic conditions

ZIMBABWE – Innscor, manufacturer of consumer goods products in Zimbabwe has reported a decline in volumes in the first quarter ended September 30th owed to reduced consumer spending power and continual deterioration of macro-economic fundamentals. […]

Astral Foods’ earnings down 55% despite a 3.9% revenue increase

SOUTH AFRICA – South Africa’s integrated poultry producer Astral Foods, reported a 3.9% group revenue increase to R13.5bn (US$0.9bn) for the full year ended September 2019. Despite increase in revenue, the groups operating profit fell […]

Zimbabwe’s Dairibord sales volumes down 40pc in third quarter of the year

ZIMBABWE – Dairibord Zimbabwe Ltd (DZL), Zimbabwe’s largest milk processor reported a 40% decline in sales volume for the third quarter to September 2019. The drop-in sales volumes was attributed to constraints of availability of […]

Flour Mills of Nigeria half year profits rise 16% to US$16.2m

NIGERIA – Flour Mills of Nigeria Plc (FMN), one of Nigeria’s leading integrated food business and agro-allied company, has posted a 16% rise in profit after tax of N5.9 billion (US$16.2m) in its unaudited half […]

Spar Group reports double digit growth in full year profit to US$187m

SOUTH AFRICA – The Spar Group, a South African retail chain has reported double digit profit growth of 12.9% before tax to R2.8 billion (US$187.1m) for the full year ended September 2019. The listed retailer […]

Zimbabwe’s National Foods posts 36% decline in quarter one sales volumes

ZIMBABWE – National Foods, Zimbabwe’s leading flour and food producer has reported a 36% decline in sales volumes in the first quarter ended September 2019 owing to reduced consumer spending power. “Volumes were subdued, closing […]