February 12, 2020 / 7:33 AM / 6 days ago

South Africa's Tiger Brands says interim profit could fall 36%

JOHANNESBURG, Feb 12 (Reuters) - South Africa’s Tiger Brands expects half-year headline earnings to fall as much as 36% and hopes to sell its Value Added Meat Products (VAMP) business after March, it said on Wednesday.

Tiger Brands, which is due to report half-year results on May 25, said it expected headline earnings per share from continuing operations of 497-552 cents, down from 773 cents reported a year earlier.

The country’s leading food producer, with brands such as Jungle Oats and Tastic rice, is exploring the sale of the VAMP business after a review last year concluded it was “not an ideal fit” in its portfolio.

Reporting by Nqobile Dludla; editing by Jason Neely

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