Pick n Pay’s half year profits grow 19.1% on gains to price cuts

SOUTH AFRICA - The retailer supermarket Pick n Pay has said that half-year profits before tax grew by 19.1% to US$47.17 million boosted by massive price cuts that attracted more shoppers into its stores, reports IOL Business report. Headline earnings per share grew by 80.5%, excluding the impact of voluntary severance costs from last year’s…

Real Foods appoints two new board members ahead of future listing plans

SOUTH AFRICA - The multi-brand food group, Real Foods has appointed two former JSE-listed company CEOs as new directors ahead of planned future listings, reports Business Day. Former Famous Brands CEO Kevin Hedderwick will join the unlisted holding company as new Group Strategic Director while Antony Ball, former Brait CEO has joined its board. Real…

Tiger Brands reopens Enterprise polony facility as Listeria fight fades

SOUTH AFRICA - Packaged goods company, Tiger Brands has reopened its ready-to-eat meat processing facility, Enterprise Foods in Germiston, months after two of its factories were shut down on listeriosis outbreak. According to Business Day, the company said it is likely to open its other facility in Polokwane once it completes refurbishments as well as…

Pioneer Foods investor Zeder posts 158% growth in earnings

SOUTH AFRICA - Agribusiness and food-focused investment group Zeder has posted 158% increase in recurring headline earnings per share to 9.8 cents due to strong recovery in earnings from most of its investee companies. Zeder has a 27% stake in the South African packaged goods company, Pioneer Foods, representing 49.1% of its entire portfolio. Its…

South Africa’s sorghum output to drop 9% to 100,000T in 2018/19

SOUTH AFRICA - Sorghum production in South Africa is on the decline and according to Global Agricultural Information Network report from the U.S. Department of Agriculture, this will drop by 9% in 2018-19 to 100,000 tonnes from 109,855 tonnes in 2017-18. The drop was attributed to a 32%decrease in area planted as many producers substituted…

Brewery launches South Africa’s first cannabis lager beer with backing from top CEOs

SOUTH AFRICA - Poison City Brewing which launched the first cannabis-infused lager beer in South Africa has received funding from Durban-based investors, including RCL Foods CEO Miles Dally and Spar CEO Graham O’Connor, Business Day reports. According to the brewer’s co-owner Andre Schubert, it started selling its lager containing hemp- made with cannabis sativa as…

US’ seed firm and AGT Foods Africa partner to form sorghum and sunflower joint venture deal

SOUTH AFRICA - The US based propriety seed company S&W Seed Co. and AGT Foods Africa Pty Ltd have partnered to form a new joint venture to deal with seed products such as sorghum and sunflower. The new company registered in South Africa under the name of SeedVision SA will produce and commercialize seed products…

Pick n Pay’s half year earnings to increase by 85% on cost savings

SOUTH AFRICA - Pick n Pay, the second largest supermarket chain store in South Africa has said it expects its half-year diluted headline earnings per share to increase by up to 85% largely due to cost savings from staff layoffs made last year. According to Reuters, the retail chain indicated that its diluted headline earnings…

Astral’s full year’s earnings to surge 85% as poultry demand weakens

SOUTH AFRICA - Astral Foods’ Earnings per Share (EPS) for the 12 months ending 30 September 2018 is expected to increase by at least 85% from the previous year as poultry sales volumes and selling prices came under pressure towards the end of the year due to a weakening consumer demand. Improvement in performance was…