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Markets News

S. Africa's Tiger Brands expects lower annual profits

Nov 2 (Reuters) - South Africa’s Tiger Brands expects lower full-year profit from last year and took an impairment charge of 43 million rand ($2.64 million), the country’s biggest food producer said on Monday.

Headline earnings per share, the main profit measure in South Africa, is expected to be between 357 cents to 397 cents lower for the full year ended Sept 30, compared to 1,322 cents it reported last year.

$1 = 16.2883 rand Reporting by Samantha Machado in Bengaluru; Editing by Shailesh Kuber

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