JSE CEO Leila Fourie with Premier Group CEO Kobus Gertenbach at the listing of the fast moving consumer goods group last year in March.
Shares in Snowflake owner Premier Foods surged about 7% on Tuesday after the fast-moving consumer goods group reported strong operating margins and a nearly 16% increase in full-year profit.
The 15.8% increase in net profit at Premier to R921 million for the year to end March came even as its topline growth moderated due to a stabilization in soft commodities.
Revenue grew a relatively modest 3.6% to R18.6 billion, but operating profit jumped more than a quarter. Premier, which also owns brands such as Blue Ribbon bread, Iwisa maize meal, Super C sweets and Dove Cotton, declared a maiden dividend of R2.20 per share, about a R284 million payout for a group valued at about R8.2 billion on the JSE.
South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we’re about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.