Tiger Brands warns of drop in full-year earnings

The food producer is to dispose of its value-added meat products businesses, previously linked to the listeria outbreak

Jungle Oats is one of Tiger Brands' original products. Picture: REUTERS/ MIKE HUTCHINGS

Earnings per share from total operations for the year ending September 30 2020 is expected to be between 76% and 79% lower than the 2,333c reported in the previous financial year. Tiger Brands, Enterprise, Beacon chocolate and Oros brands, said the performance reflects “the poor first-half performance, but includes an improved underlying performance expected in the second half, offset by the impact of Covid-19 related costs ... as well as restructuring costs estimated at approximately R70m as a result of adopting a fit-for-future operating model”.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BDliveSA /  🏆 12. in ZA

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Listeriosis class action lawyers want court to force disclosure from Tiger BrandsRichard Spoor Attorneys says the information on food safety was required by the end of May
Read more »

Tiger Woods lurks four shots off the pace after improved putting display in playoffs openerHarris English grabbed a share of the lead at the Northern Trust on Thursday as TigerWoods Woods lurked four shots back in the FedExCup playoffs opener.
Read more »

WATCH LIVE | And SA’s coolest brands are ... watch the Sunday Times Gen Next digital awards on August 21 at 10.30amWATCH LIVE | And the winners are … Tune in to stream the 16th annual Sunday Times Gen Next Awards on Aug 21 at 10.30am.
Read more »

And SA’s coolest brands are ... watch the Sunday Times Gen Next digital awards on August 21 at 10.30amSince 2015, Nike has been the most successful brand in the Sunday Times Gen Next survey
Read more »

And SA’s coolest brands are ... watch the Sunday Times Gen Next digital awards on August 21 at 10.30amFor the past 3 years, FNB, Capitec & Standard Bank have held the top 3 positions in the banking sector, and the competition remains stiff. Will there be a new winner crowned in 2020? Watch the 16th annual Sunday Times Gen Next awards on Aug 21 at 10.30am.
Read more »

Implats pumps full-year earningsLike its peers, SA's number three PGM supplier benefits from soaring metal prices and weak rand
Read more »