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Johannesburg - South African food manufacturer Pioneer Foods said it expected half year earnings to rise by as much as 110% as it benefitted from cost cutting measures, among others.
Shares of the bread and pasta maker gained on Friday after it said it had recorded higher sales in international markets while a weaker rand also provided a boost.
Headline earnings per share would climb between 95% and 110% for the six months to March 2014, Pioneer said in a trading update.
In October, the company slashed jobs in a restructuring process to reduce costs in the face of constrained consumer spending.
Pioneer shares jumped 7.22% to R90 rand at 09:16 GMT on Friday.
Shares of the bread and pasta maker gained on Friday after it said it had recorded higher sales in international markets while a weaker rand also provided a boost.
Headline earnings per share would climb between 95% and 110% for the six months to March 2014, Pioneer said in a trading update.
In October, the company slashed jobs in a restructuring process to reduce costs in the face of constrained consumer spending.
Pioneer shares jumped 7.22% to R90 rand at 09:16 GMT on Friday.
