Adds particulars on earnings, market, and dividend
JOHANNESBURG, Sept 6 (Reuters) – South African meals producer RCL Meals RCLJ.J reported on Monday a greater than eightfold improve in its full-year revenue, boosted by stable performances of its sugar, baking and grocery enterprise models.
RCL, which owns Selati sugar, Ouma rusks and Rainbow Chickens manufacturers, reported headline earnings per share (HEPS) of 107.9 cents for the yr ended June 30, up from 13 cents final yr.
The corporate’s underlying HEPS, which excludes once-offs and accounting changes, rose by 166.9%.
Income rose 14% to 31.7 billion rand ($2.21 billion), largely pushed by the corporate’s greater native market share within the sugar business and upbeat Vector logistics income on improved buyer base and robust hen gross sales.
All enterprise models of its meals division, comprising groceries, sugar and baking, continued to profit from elevated at-home consumption and better demand for pantry necessities.
Regardless of income climbing 17.3%, underlying EBITDA (Earnings Earlier than Curiosity, Taxes, Depreciation, and Amortization) slumped 50.1% in its hen unit.
The South African firm, which has been reviewing its portfolio, stated enter pricing stress has continued to construct in sure enterprise models throughout the previous yr resulting from a major rally in agricultural commodity costs for maize, soya, sunflower, wheat and peanuts.
This price stress stems primarily from international crop failures and elevated demand from China. This has been largely absorbed by native meals producers in a constrained client market, RCL stated.
RCL declared a last dividend of 30 cents per share.
($1 = 14.3451 rand)
(Reporting by Nqobile Dludla; Modifying by Sherry Jacob-Phillips)
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