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Tiger Brands revises expected year-end earnings to higher range

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Higher foreign currency balances and final trading numbers are among the reasons

Tiger Brands upgraded its full-year earnings guidance on Wednesday, sending its share price surging. The share was lifted by above-forecast final trading numbers, favourable foreign currency swings and contributions from associate income.

In a trading update on Wednesday, SA’s largest food company said headline earnings per share , the primary measure of profit that excludes certain one-off items, was expected to be 48%-53% higher in the year to the end of September — significantly higher than the previous forecast of 35%-45% increase in September...

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