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…
SOUTH AFRICA - The branded foods and beverages group, Clover Industries said it expects its headline earnings a share to increase by between 207.13% and 227.13% for the year to June, IOL reports. Following the announcement, its share price jumped by 2.14 % to $1.36 a share, from the previous price of $1.33. The release…
SOUTH AFRICA - The branded foods and beverages group, Clover Industries Ltd expects headline earnings per share (“HEPS”) for the year ending 30 June 2018 to increase more than 20% stating improved market conditions in the period. In a trading statement released 28 June, the group said its earnings per share (Eps) would also lift…
SOUTH AFRICA - Clover Industries Limited, the branded foods and beverages group has partnered with the South Africa’s functional food company FUTURELIFE to introduce Smart Drink, a nutritional dairy product to add to its portfolio of functional drinks. SMART DRINK is an enriched drink made of dairy and a combination of specialized starches (non-GMO), to…
SOUTH AFRICA - Clover S.A. Ltd, consumer goods and products producer reported 7.7% revenue growth to US$352.50 million in the six months to December, attributed to a series of efficiency improvement initiatives. The company’s operating profit shot up 14.8% to US$31.05 million, with headline earnings per share jumping 17.8%. Establishment of Dairy Farmers SA (DFSA)…
SOUTH AFRICA - Frantz Scheepers has been appointed the new CFO of Clover Industries, replacing 2017 CFO Awards nominee, Elton Bosch. Starting 1 November, for two months, Scheepers will act as the CFO designate, working closely with Bosch to ensure a smooth transition. He will then formally take over as CFO, effective 1 January, also…
SOUTH AFRICA – Clover says headline earnings per share for the year to June are expected to be 50% to 65% down from 2016 as “stagnant and falling” selling prices and rising input costs are forcing it to make difficult decisions about long-term growth.
SOUTH AFRICA – Clover has wrapped up the restructuring of the company, a move CE Johann Vorster called the “most exciting change in the business” since the dairy company listed seven years ago.
SOUTH AFRICA – Clover has clarified its restructuring first announced in December, saying the price of raw milk will now be determined by the market.
SOUTH AFRICA – Clover has clarified its restructuring first announced in December, saying the price of raw milk will now be determined by the market.
