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. […]

Rhodes Food Group’s grows annual turnover by 8.5% to US$364.5m

SOUTH AFRICA – The Rhodes Food Group, South Africa’s leading manufacturer of canned fruit, jams and canned meat, upped its operating profit by 24.9% to R392.2m (US$26.4m) and headline earnings by 38% for the year […]

AB InBev pumps US$339m into its Nigerian subsidiary International Breweries

NIGERIA – Anheuser-Busch InBev (AB InBev) the parent company of International breweries has injected N123bn (US$339m) into the breweries operations, committing to participate fully in the new capital raising exercise. This follows the approval by […]

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 […]