JOHANNESBURG (Reuters) - South African consumer goods firm Tiger Brands posted a 7 percent rise in full-year earnings on Wednesday, helped by higher prices, but said it expects a tough year ahead.
The maker of bread, breakfast cereal and energy drinks said diluted headline earnings per share for the year to end September totaled to 1,654.2 cents from 1,545 cents last year.
Headline earnings, the main profit gauge in South Africa, exclude certain one-off items.
The company said revenue rose 11 percent to 22.7 billion rand.
Tiger Brands has been ramping up its expansion in fast-growing African markets and last year increased its footprint outside its home base with acquisitions in Nigeria and Ethiopia.
The company this year purchased a majority stake in Nigeria's Dangote Flour Mills in its third and biggest deal yet in Nigeria.
Tiger Brands said it expected 2013 to be a challenging year as consumers remain under pressure.
It declared a final dividend of 555 cents per share.
Tiger Brands shares have gained 11 percent so far this year, lagging a 16 percent rise in the benchmark Top-40 index.
Source: http://news.yahoo.com/tiger-brands-reports-rise-full-earnings-053234864--finance.html
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