May 25, 2020 / 6:24 AM / 2 months ago

South Africa's Tiger Brands reports lower H1 earnings, defers dividend

JOHANNESBURG, May 25 (Reuters) - South African food producer Tiger Brands reported on Monday a 35% fall in half-year headline earnings and deferred its interim dividend due to uncertainty around the coronavirus pandemic.

Headline earnings per share from continuing operations fell to 501 cents in the six months ended March 31, from 773 cents in the same period last year.

“The group’s overall performance reflects the difficult trading environment and the challenges faced, particularly within grains, groceries, Value Added Meat Products (VAMP) and exports,” it said in a statement.

Tiger Brands said depending on the group’s trading performance for the full financial year and the financial outlook at that time, a dividend would be re-considered at the end of the year. (Reporting by Nqobile Dludla; Editing by Mark Potter)

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