Volume declines and a profit squeeze saw shares in Tiger Brands crashing more than 16% on Tuesday as it grappled with the worst consumer environment in 25 years and made plans to deal with Stage 10 load shedding.
JOHANNESBURG (Reuters) - South Africa's biggest food producer Tiger Brands said on Tuesday its annual income might drop as it expected a significant rise in costs because of increased power cuts in the coming winter months, sending shares down 15% in early trade. | 04:12am
SA's largest food producer, Tiger Brands, has reported a double-digit increase in interim revenue as it passed on escalating input costs to customers, but this came at the price of overall volumes moving backwards.
Tiger Brands sees volume, margin pressureSouth Africa's largest food producer, Tiger Brands, has reported a double-digit increase in interim revenue as it passed on escalating.