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…

Tiger Brands’ half year earnings drop 16% on Listeriosis outbreak

SOUTH AFRICA - Half year earnings for the Africa’s biggest packaged-food producer, Tiger Brands dropped by 16% following the outbreak of the ‘world’s worst’ listeriosis outbreak reported to have cost it US$29 million. The deadly listeriosis outbreak which has killed 200 people since early 2017 was linked to one of its meat processing facilities leading…

Listeriosis outbreaks shuts another Tiger Brands facility

SOUTH AFRICA - All products manufactured at Value Added Meat Product's (VAMP) Pretoria facility are being recalled by Tiger Brands‚ including the company’s Snax brand‚ as a precautionary measure‚ Tiger Brands said on Monday. Production at the plant will also be suspended. "This decision was taken as a result of the detection of Listeria monocytogenes at…

Tiger Brands flags loss at meat unit after listeria outbreak

SOUTH AFRICA - South Africa’s Tiger Brands said on Monday it expected its meat products unit to record a monthly loss of up to 33 million rand ($3 million) after it suspended operations at four sites over a listeria outbreak that has killed 180 people in 14 months. Health authorities ordered a recall of processed…

Tiger Brands, RCL Foods lost US$479.59 million in one day after Listeriosis Outbreak

SOUTH AFRICA - Shares in South Africa’s biggest consumer foods producer Tiger Brands and RCL Foods fell on Monday after the government linked a deadly listeria outbreak to cold meat products “polony” made by Tiger unit Enterprise Food. Tiger Brands lost about US$479.59 million in market capitalisation just in one day, based on a number…

Tiger Brands division to recall affected products, but conducting own Listeriosis tests

SOUTH AFRICA - Tiger Brands, on behalf of its division Enterprise Foods, has committed to recalling products that are identified with listeriosis outbreak, but are conducting its own tests as well. This follows an announcement by Health Minister Aaron Motsoaledi and the National Institute of Communicable Diseases (NICD) on Sunday that the source of the present…