February 21, 2018 / 5:24 AM / 3 months ago

BRIEF-Tiger Brands Says ‍Group Revenue For 4-Mths Ended Jan Declined By 5%​

Feb 21 (Reuters) - Tiger Brands Ltd:

* ‍GROUP REVENUE FOR FOUR MONTHS ENDED 31 JANUARY 2018 DECLINED BY 5%​

* ‍DECREASE IN 4-MONTH REVENUE AGGRAVATED BY PRICE DEFLATION IN SOME SOFT COMMODITIES AND HIGHER LEVELS OF DISCOUNTING IN DOMESTIC BUSINESS​

* 4-MONTH ‍CONSOLIDATED GROSS PROFIT MARGIN PERCENTAGE HAS IMPROVED COMPARED WITH CORRESPONDING PERIOD LAST YEAR​

* ON PROTRACTED DROUGHT IN WESTERN CAPE, TAKEN NECESSARY MEASURES TO ENSURE SUSTAINABILITY OF OPERATIONS AND TO MITIGATE SUPPLY CHALLENGES​

* ‍GROUP’S PERFORMANCE FOR REMAINDER OF 2018 FINANCIAL YEAR IS LIKELY TO BE IMPACTED BY SLOW START TO YEAR​

* ‍PROVIDED THERE ARE NO RESTRICTIONS ON USE OF BOREHOLE WATER, WE DO NOT FORESEE SUPPLY DISRUPTIONS AT THIS STAGE IN WESTERN CAPE​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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