• Gupta fallout

    KPMG is still losing staff and clients due to Gupta fallout, according to insiders.

  • Stimulus reaction

    Ratings agency Fitch says SA's stimulus plan is unlikely to boost growth significantly.

  • The Ramaphosa Plan

    The president said on Friday that the work "starts now". He wasn't wrong, writes Pieter du Toit.


Clover profits sour on costs, inflation

Sep 16 2014 11:28

Company Data


Last traded 15
Change 0
% Change 1
Cumulative volume 1469
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Clover buys Dairybelle yoghurt, milk units

Clover to make comeback in local market

Pioneer eyes separate listing for Quantum

Pioneer plummets

Local brandy producers lift their game

Sugar imports not so sweet for Sadc producers


Johannesburg - Food and beverage firm Clover Industries [JSE:CLR] posted a 14.2% fall in earnings on Tuesday, clipped by brisk inflation levels and higher raw material costs.

Headline earnings per share, which strips out one-off items, totalled 102.7 cents in the year ended June compared with 120c a year earlier.

Consumer spending in Africa's most-advanced but ailing economy is under pressure due to higher personal debt levels while higher input costs have hit manufacturers such Clover and Tiger Brands.

"We took a strategic decision to increase prices gradually to protect hard-won market share and sales volumes," chief executive Johann Vorster said.

READ: SA's June headline CPI steady

South Africa's main consumer inflation measure slipped to 6.3% in July from 6.6% in June, but that slowdown came after the period under review and at over 6% remains stubbornly high.

Clover said sales increased 8.9%t to R8.5bn but volumes were lower as higher prices put off consumers.

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

clover  |  agribusiness


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
Comments have been closed for this article.

Company Snapshot

Money Clinic

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

Voting Booth

What do you think of President Cyril Ramaphosa's economic stimulus plan?

Previous results · Suggest a vote