RHODES Food Group plans for more acquisitions

RHODES Food Group plans for more acquisitions

 

RHODES Food Group, a South African food producer ranking among the top listed food companies on the JSE said it is considering more acquisitions and planning capital expenditure of R252m in capacity extension and the updating of infrastructure.

In the year until September 2015, the group dramatically increased its standardized feature income per offer to 87.4c from 36.9c in September 2014. Turnover rose 23.7% to R3bn contrasted and a year back, while benefit after expense climbed 105.9% from a year prior, to R169.8m. The company, which recorded on the JSE in October 2014, announced a profit of 24.8c for each share. Rhodes said its local fragment helped its execution. The provincial portion incorporates business created in SA, which represents most of the portion, and 14 different nations in sub-Saharan Africa.

“The worldwide division posted a more grounded second-half execution, in accordance with administration’s direction, after the initial six months were adversely affected by a movement in timing of fare requests and shipments which standardized through the span of the year,” the organization said.

Company‚Äôs product range incorporates canned natural product, jam, vegetable and meat items, new instant dinners, pies, baked goods and dairy items. A percentage of the bunch’s brands are Magpie, Bull Brand, Hazeldene, Portobello and Trout Hall.

Contrasted with its associates in the J357 nourishment makers file, Rhodes is the best-performing share so far this year. Since the start of the year the offer cost is up 51.35%. Pioneer Foods is the second-best performing share and has risen 26.48% over the same period.

Tongaat Hulett has fared most exceedingly bad inside of the file, down 40.89% year to date. At 2.29pm, Rhodes’ offer cost was up 4.09% to R22.90, esteeming the organization at about R4.9bn.

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