Data provided by iNet BFA
Loading...
See More

Pioneer profits hit by BEE costs

Nov 26 2012 07:40 Reuters

Company Data

PIONEER FOOD GROUP LIMITED [JSE:PFG]

Last traded 121.63
Change 2.33
% Change 0.02
Cumulative volume 69152
Market cap 28.18bn

Last Updated: 02/09/2014 at 04:22. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Pioneer Foods MD to retire

Higher food prices to hit consumers

Oceana fined R35m for price-fixing

Pioneer in second phase of BEE deal

Companies reject food price warning

Pioneer earnings hit by BEE deal costs

 
Johannesburg - Pioneer Food Group [JSE:PFG] posted a 17% drop in full-year earnings on Monday, hit by costs related to an empowerment transaction.

The group, which makes bread, breakfast cereal and juices, said headline earnings per share for the year to the end of September totaled 337 cents from 407c last year.

Headline earnings, the main profit gauge in South Africa, exclude certain one-off items.

Pioneer Foods said the earnings were impacted by a charge of R161m, relating to the implementation of the second phase of a broad based black economic empowerment transaction.

It said revenue rose 10% to R18.6bn.

The company's shares are down 3% so far this year, compared with an 18% rise in the broader All-share Index.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

pioneer foods  |  earnings reports
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

“Hippie sense makes business sense,” an entrepreneur said, adding that "purpose" was core to success.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...