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Tiger Brands warns of drop in full-year earnings

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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”.

 

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