Tiger Brands first-half earnings rise 11% as turnaround picks up

Loading player...
GUEST – Tjaart Kruger – Tiger Brands CEO
Tiger Brands’ performance for the 6 months that ended 31 March 2024 reflects a tough trading environment in which consumers remain constrained. Total revenue for the year regressed by 1%, driven by price inflation of 8% and overall volume declines of 9%. Good volume growth in Exports was offset by declines in the Domestic Business.
In the Domestic Market, significantly improved performances were reported from the Groceries, Beverages, Personal Care, Tiger Brands Food Services Solutions (Food Services) and Baby segments. This was, however, diluted by an underperformance in the Grains portfolio and volume declines in Bakeries.
Total revenue for Exports and International increased by 22% to R2,6 billion, maintaining good momentum in trajectory in the Rest of Africa business with solid and sustained volume growth of 10%. Exports reported marked improvements in volumes, revenue and profitability. Building on the rejuvenation and remodelling of the Group’s key distributor model, volumes increased in Mozambique, Zambia and Zimbabwe.
27 May 2024 3PM English South Africa Business News · Investing

Other recent episodes

Paymenow data shows SA workers lose 40% of purchasing power.

A new Paymenow analysis shows South African workers have lost more than 40% of their purchasing power over the past decade—even as headline inflation stayed within target. Rene Richter, Reward & Benefits Lead Advisor at Paymenow, joins Kaya Biz to unpack why wages aren’t keeping up, how transport and utilities…
21 May 2PM 10 min

Oceana H1 Results: Lucky Star Shines as Fishmeal Stumbles

Oceana Group has delivered a resilient set of interim results despite a 6% drop in revenue. Lucky Star and Wild Caught Seafood carried the half‑year, while Fishmeal & Fish Oil struggled under weak catch volumes and global pricing pressure. CFO Zaf Mahomed joins Kaya Biz to break down margins, cash…
21 May 2PM 18 min

Inside Investec’s Strong 2026 SA Performance

Investec SA has delivered a robust full‑year performance in a tough macro environment. CEO Cumesh Moodliar joins Kaya Biz to unpack the 5.2% rise in SA operating profit, strong momentum in specialist banking, wealth inflows, digital transformation, and what the bank expects from the South African economy heading into 2027.
21 May 2PM 13 min

Stats SA Explains April’s Sharp Inflation Rise to 4%

South Africa’s inflation rate surged to 4.0% in April, driven by fuel, transport, and housing pressures. Stats SA’s Patrick Kelly unpacks the numbers, the 1.1% month‑on‑month spike, and what’s behind the dramatic swing in transport inflation. We explore regional differences, goods vs. services inflation, and what this means for households…
20 May 4PM 11 min

4% Inflation and the SARB’s Next Move

With inflation back at 4% and oil‑driven risks rising, the SARB faces a critical decision next week. Economist Sifiso Skenjana unpacks the April CPI print, the credibility of the new 3% target, and whether a rate hike is now on the table. We discuss real interest rates, global financial conditions,…
20 May 4PM 15 min