Nampak ramps up aluminium cans due to plastics backlash 

SOUTH AFRICA (Bloomberg News)- Nampak is ramping up production of aluminium cans as Africa’s biggest producer of beverage packaging responds to consumers’ global retreat from plastic. The Johannesburg-based company is also putting greater emphasis on cardboard cartons and developing a type of renewable plastic lid made from sugarcane, chief executive officer Andre de Ruyter said…

AFGRI signs concession with Transnet in South Africa ports deal

SOUTH AFRICA– South Africa’s rail operator Transnet has announced its intent to enter into a fifteen-year concession agreement with agribusiness major AFGRI Operations for the operation and maintenance of landside operations with Transnet Port Terminals in South Africa, reports Fin 24. The agreement will focus on two strategic agri-ports in the country, the East London…

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 Moneyweb, operating income in the year ended September fell 28% to US$239.56 million while headline earnings per share (HEPS) shed…

Packaging group Mondi to dump dual listing for a primary one in London

SOUTH AFRICA – The international packaging and paper group Mondi has announced that it plans to dump its dual listing structure for a primary listing in London, reports IOL Business. The company which operates in the consumer packaging business said it would move its primary stock to London but would retain a secondary listing on…

Rhodes Food to acquire RCL’s protein snacking business for US$2.1m

SOUTH AFRICA - Rhodes Food Group, one of the top listed food companies on Johannesburg Stock Exchange has said that it is in the process of concluding a deal to acquire RCL Foods’ protein snacking business for US$2.15 million. The transaction which is subject to regulatory approval will see Rhodes Food integrate the yet to…

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 heavily impacted sales. Headline earnings for the period under review also decreased by 32.9% to US$11.29 million, adversely affected by…

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 increased international oil prices and weak currency. Profits in the year to end September was boosted by the recovery of…

Distell to distribute and market cannabis lager for Poison City Brewing

SOUTH AFRICA – Africa’s leading spirits and wines producer, Distell Group has agreed to distribute and market cannabis-infused beer, the country’s first made by Poison City Brewing. The distribution support agreement will see Distell, which do not have beers in its portfolio distribute and sell the cannabis lager, which has received backing from RCL Foods…

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 million from US$23.87 million the year before while revenues from the group’s African operations increased 11%. The year was helped…

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 to last year when operating profit clicked US$102.2 million, the decline in the period was attributed to land transactions that…