The group reported a 5% rise in headline earnings to R367.2m in its year to end-February
Long4Life, Brian Joffe’s investment group, is focusing on preserving cash during Covid-19, which it says may allow it to make acquisitions even as the pandemic creates unprecedented economic uncertainty.
Headline earnings are a widely used profit measure in SA, stripping out once-off items to give a better indication of underlying performance. Trading profit in the group’s beverages division decreased 9% to R139.8m, with the group describing the performance of Chill Beverages as disappointing. Increased investment in facilities upgrades and marketing initiatives at Chill Beverages did not yield the expected revenue rise, the group said, adding that increasing competition and pricing pressure affected margins.
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