SOUTH AFRICA – Tiger Brands’ road to recovery after facing the recent Listeria crisis may see the food producer grow its revenue and earnings by 8.4% and steadily thereafter in the next three years. Business Live reports that, Finance and investment firm, Arqaam, projects a strong growth for Tiger Brands, but off a low base,…
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…
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…
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…
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…
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…
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 - 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…
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.…
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…
