South Africa’s Tiger Brands posts 1.6 rise in FY profit
November 27, 20171.4K views0 comments
South Africa’s biggest consumer foods maker, Tiger Brands, on Monday reported a 1.6 percent rise in full-year profit as it refocuses on its home market after a costly foray into the rest of Africa.
Tiger Brands reported headline earnings per share (EPS) of 2,161 cents for the year to end-September, compared with 2,127.1 cents a year ago.
Headline EPS is the main profit measure in South Africa and strips out certain one-off items.
Tiger Brands, which makes bread, breakfast cereals and energy drinks, started a strategic review under new chief executive Lawrence MacDougall after heavy losses in Nigeria.
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The company sold the bulk of its Nigerian business to Dangote Flour Mills in 2015 and has also pulled back from East Africa as part of the review.