Bull Brand owner RFG said on Wednesday grew its interim earnings more than a fifth and took market share from rivals, even as it experienced volume declines as South African consumers struggle.
While it only reported a just over 3% increase in revenue to about R4 billion in the six months to end March, price inflation stood at almost 7%. But RFG said it was able to pass on increasing raw material and packaging costs, while implementing cost savings. At the same time, its load shedding-related diesel costs nearly halved to about R20 million, helping the owner of brands such as Hinds spices, Rhodes, Bisto and Today pastry, deliver a 15% increase in group operating profit to almost R400 million. Its operating profit margin picked up a full percentage point to just over 10%. Headline earnings rose 20.7% to R262 million.South Africans need to be in the know if we want to create a prosperous future.
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