Johannesburg - Dairy foods maker Clover Industries Limited [JSE:CLR] said on
Monday full-year profit more than trebled helped by strong sales, and said it
will struggle with higher costs in the coming year.
Clover, whose brands include Tropika juices, said diluted
headline earnings per share for the year to end-June totalled 106.2 cents, from
33.1c a year earlier.
Clover said earlier this month it expected full-year profit
to more than treble.
The company said revenue rose 6.1% to R6.5bn.
Clover said higher input costs would have the single biggest
impact on its performance in the coming year. Like companies around the globe,
Clover is struggling with higher commodity prices.
But Clover said inefficiencies in its supply chain meant it
will likely be hit harder than its competitors by highers costs.
Clover is currently working on its key expansion project,
the Cielo Blu project, which involves moving production facilities closer to
milk sources in the coastal areas of South Africa.
The company declared a final dividend of 15c.
Clover listed on the Johannesburg Stock Exchange in December