As branded foods company Tiger Brands waits to see if it will have to cough up to victims of the deadly listeriosis outbreak, other woes continue to mount.
Considering the bruising declines, it may have seemed remiss for management — CEO Lawrence MacDougall and CFO Noel Doyle — to avoid reference to the listeriosis outbreak at the presentation of the interim results. Instead, they bundled it under a set of “external circumstances” that affected the results.ready-to-eat processed meat products, including Vienna sausages, French polony and chicken polony from retail shelves can be seen in the performance of its value-added meats business.
Restarting the factory after nine months, which was later than expected, eroded profits as Tiger Brands incurred revenue losses of about R50-million a month. These were large losses for the This prompted one analyst to say that Tiger Brands is still being punished by consumers for the “disastrous way” in which it handled the listeriosis outbreak. While the nation panicked about the outbreak during early days, Tiger Brands denied that it was responsible and continued to market contaminated products.