Blue Ribbon bread and Snowflake owner, Premier Group reported a 22.7% rise in normalised headline earnings per share (Heps) to 552 cents for the year ended March 2023 on Tuesday ... Moneyweb Matshoba_A
The owner of Blue Ribbon bread and Snowflake, Premier Group reported a 22.7% rise in normalised headline earnings per share to 552 cents for the year ended March 2023 on Tuesday, boosted by strong performances in its Millbake, groceries and international operations. This is Premier’s first full-year results to the market since relisting on the JSE in March, after an 18 year-long hiatus from the bourse. Despite the strong performance, Premier did not declare dividends for the period.
The Millbake business, which includes the Snowflake flour brand, reported price growth of 24% and muted volume growth of 1%, contributing R14.9 billion in revenue in the period. “Despite evident macroeconomic headwinds, Premier has shown consistent delivery of growth and is well positioned to drive further growth through a relentless focus on efficiencies and being the lowest cost producer,” the group said.
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