Tiger Brands revenue declines 9% hurt by listeria crisis and a weak economy

SOUTH AFRICA – Tiger Brands, South Africa’s biggest traded packaged-food company has posted 9% decline in revenue to US$2.06 billion as it struggles to recover from listeria outbreak and a weak consumer spending. According to […]

Campbell Soup posts 25% rise in sales in Q1 boosted by acquisitions

USA – Campbell Soup reported US$2.69 million in net sales, a 25% increase in the first quarter ended Oct. 28, highlighting the benefit from the acquisitions of Snyder’s-Lance Inc. and Pacific Foods of Oregon. Net […]

Rhodes Food profit drops 34.3% impacted by lower sales in a slow economy

SOUTH AFRICA – The JSE-listed food company, Rhodes Food has said that profit after tax for the year ended 30 September declined 34.3% to US$10.95 million as a result of a slowing economic environment that […]

Pioneer Foods earnings soar 47% as inflation curtails growth

SOUTH AFRICA – The South African packaged goods company, Pioneer Foods has reported that earnings per share increased 47% to 575c from 390c in 2017 even the company struggled to contain inflationary pressure driven by […]

Oceana fishing revenue grows 14% to US$549m as Daybrook operations pay

SOUTH AFRICA – Fishing group Oceana has more than tripled after-tax profits in the year to End-September, with revenues jumping 14% to US$549.11 million during the period. Total income for the year grew to US$78.41 […]

GrainCorp profit falls 50% under prolonged drought in the eastern grain belt

AUSTRALIA –  Australia’s largest grain handler, GrainCorp has said annual net profit fell 50% to US$51.37 million as a result of dry conditions that hit production in eastern Australia during the last cropping season. The […]

Astral Foods profit soars 78.7% on lower chicken feed costs in 2018

SOUTH AFRICA – South Africa’s leading integrated poultry producer Astral has reported 78.7% increase in group operating profit to US$134.99 million, resulting in an operating profit margin of 15%, ANA reports. According to the company, […]

Olam International earnings fall 14.2% as coffee and peanuts disappoint

SINGAPORE – Global International company, Olam International earnings declined 14.2% to US$15.05 million (S$20.7 million) in the third quarter on tough trading conditions in coffee, and lower performance from peanut business. During the period, revenue […]

Coca-Cola HBC revenue rises 2.6% with strong growth in developing markets

SWITZERLAND – Coca-Cola HBC, the world’s second-largest Coca-Cola anchor bottler in terms of volume has said revenue in the third quarter of 2018 increased by 2.6% to US$2.11 billion driven by strong volume growth. Volume grew […]

Sugar processor Tongaat’s profit tumbles 64% hurt by unconcluded land deals

SOUTH AFRICA – Tongaat Hulett, the South African agri-processing business focused on sugarcane and maize processing has posted a 64% decline in operating profit to US$36.86 million in its financial year, reports IOL Business. Compared […]