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BRIEF-Tiger Brands Reports Lower FY HEPS, Potential Disposal Of VAMP

Published 22/11/2019, 06:43
© Reuters.  BRIEF-Tiger Brands Reports Lower FY HEPS, Potential Disposal Of VAMP
TBSJ
-

Nov 22 (Reuters) - Tiger Brands Ltd TBSJ.J :

* JSE: TBS - AUDITED GROUP RESULTS AND DIVIDEND DECLARATION

THE YEAR ENDED 30 SEPTEMBER 2019

* TIGER BRANDS LTD - FY REVENUE INCREASED BY 3% TO R29.2

BILLION

(EXCLUDING VAMP+, REVENUE INCREASED BY 5% TO R28.6 BILLION)

* TIGER BRANDS LTD - FY HEPS DOWN 17% TO 1 349 CENTS PER

SHARE

* TIGER BRANDS LTD - FY EPS UP 55% TO 2 364 CENTS PER SHARE

* TIGER BRANDS LTD - TOTAL DIVIDEND DECLARED OF 1 061 CENTS

SHARE

* TIGER BRANDS LTD - UNBUNDLING OF INVESTMENT IN OCEANA

CONCLUDED

* TIGER BRANDS LTD - DELI FOODS DISCONTINUED

* TIGER BRANDS - FY RESULTS IMPACTED BY UNBUNDLING OF

OCEANA,

CHALLENGING OPERATING ENVIRONMENT, SLOWER THAN ANTICIPATED

RECOVERY IN VAMP BUSINESS

* TIGER BRANDS LTD - DELI FOODS IN NIGERIA HAD BEEN IN LOSS

MAKING

POSITION FOR LONG TIME, BOARD APPROVED CLOSURE OF BUSINESS

* TIGER BRANDS LTD - EXPECTED THAT SIGNIFICANT

MACRO-ECONOMIC

CHALLENGES FACING COUNTRY ARE LIKELY TO PERSIST FOR FORESEEABLE

FUTURE

* TIGER BRANDS LTD - OPERATING ENVIRONMENT IS LIKELY TO

REMAIN

SUBDUED

* TIGER BRANDS LTD - PLACED HEIGHTENED FOCUS ON DRIVING

PRODUCTIVITY AND SECURING COST EFFICIENCIES ACROSS VALUE CHAIN

TO PROTECT MARGINS

* TIGER BRANDS LTD - FY GROUP OPERATING MARGIN DOWN 260 BPS

* TIGER BRANDS LTD - LOWER VOLUMES, COUPLED WITH INABILITY

FULLY RECOVER INPUT COSTS, PLACED GROSS MARGINS UNDER PRESSURE

IN FY

* TIGER BRANDS LTD - REGARDING POTENTIAL DISPOSAL OF VAMP,

FORMAL

DUE DILIGENCE PROCESS IS UNDER WAY

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

* TIGER BRANDS LTD - WILL PRIORITISE INVESTMENT IN GROUP'S

BRANDS

Source text for Eikon: ID:nJseV0004a

Further company coverage: TBSJ.J

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