Tiger Brands reopens Polokwane meat factory after listeriosis hush

SOUTH AFRICA – Top Johannesburg Stock Exchange listed company, Tiger Brands has received the green-light to re-open its polony meat processing factory, Polokwane months after Health Minister Aaron Motsoaledi declared an end to the Listeria outbreak. According to a Reuters report, Tiger Brands has received permission from South Africa authorities to immediately resume production of…

High court ratifies listeriosis class action suit against Tiger Brands

SOUTH AFRICA - The Johannesburg high court certified the request by the law firms representing listeriosis claimants to amalgamate the cases against Tiger Brands into a one class action suit, reports Fin24. The listeriosis outbreak, which according to the world health organisation was the largest of its kind, infected over one thousand people and costed…

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…

Tiger Brands expects 30% decline in full year earnings with recovery from listeriosis

SOUTH AFRICA – Tiger Brands has revised its profit warning and now expects headline earnings per share to fall by between 25% and 30% as the company struggles to recover from the listeriosis tussle, reports Business Day. This is a revision from the 22% to 37% range it had earlier forecast for the year to…

Tiger Brands and Stellenbosch University launch South Africa’s first food safety centre

SOUTH AFRICA – South Africa’s packaged goods company, Tiger Brands in partnership with Stellenbosch University has launched the first Centre for Food Safety in the country. Formation of the centre comes in the aftermath of a deadly listeria outbreak in the country said to have originated from Tiger Brands’ Polokwane processed meat factory. According to Tiger…

Clover’s annual profit more than triples after a US$29m impairment in DFSA

SOUTH AFRICA - Clover Industries has reported that normalized annual profit more than tripled following the exit from the dairy business, Dairy Farmers of SA (DFSA) in which it recorded US$29 million impairment relating to a revolving credit loan given to the subsidiary. Normalised headline earnings per share (HEPS) rose to 206.9 cents for the…

Tiger Brands full-year profit fall by 37% after Listeriosis outbreak aftermath

SOUTH AFRICA - Tiger Brands Ltd., a South African packaged goods company, has said that its full-year profit fell as much as 37% after one of its plants was blamed for South Africa’s listeriosis outbreak. According to Bloomberg, the company shares dropped by 9.8%, the most since March 5, the day after the South African…

Tiger Brands plans expansion into North Africa

SOUTH AFRICA - The packaged goods company, Tiger Brands is eying expansion into North Africa, outside its home market South Africa. According to a Bloomberg report, plan to expand outside SA, its biggest market was hampered by the listeriosis outbreak in the past months, claimed to have originated from one of its meat processing facilities.…

Tiger Brands makes changes to its executive after costly Listeriosis

SOUTH AFRICA - The South African packaged goods company, Tiger Brands has announced changes to its executive leadership following a listeriosis outbreak that is reported to have cost it close to US$29 million, reported Business Day. The company said Yokesh Maharaj would join the group from early July as chief growth officer for exports and…

Tiger Brands to open Enterprise polony factory by end of 2018

SOUTH AFRICA - The South African packaged good company, Tiger Brands has told their shareholders that the opening of the Enterprise polony factory in Polokwane is set to be by the end of this year. However, the group said though production at the site is expected to start by October 2018, its opening would depend…