Food producer RCL Foods says a strong performance in its sugar and Vector Logistics businesses as well as a return to profitability of the chicken business are what supported its resilient performance over the last year ended June 2022. The JSE-listed food manufacturer, which reported on its full year performance on Monday, says its revenue for the period grew by 10.2% to R34.9 billion, up from R31.7 billion reported in the previous period. Headline earnings were up by 10% to R1.
According to the group, the sugar business reported its second highest profit ever this period, aided by improved mill recoveries and efficiencies, as well as maintained local demand amid reduced industry supply. The sugar unit, the star performer of the segment, reported a 7.2% increase in revenue this period to R9 billion, up from R8.29 billion in the previous year. Overall, the value-added segment of the business reported a 7.4% rise on revenue to R21.
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