S.Africa's Tiger Brands pursues efficiency after sales volumes shrink [Reuters]
TIGER BRANDS LTD S/ADR (TBLMY)
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Source: Reuters
and the number of brands it sells, it said on Thursday, after inflation drove consumers to buy less, knocking its revenues lower in the four months to the end of January. It also flagged flat to lower operating income for the six months ended March 31, and said its Black Friday sales and promotional activity over the December period fell short of expectations. The owner of Jungle Oats and Tastic Rice said group revenue for the four months ended Jan. 31 declined by 1% year-on-year, driven by volume declines, across most segments, of 8%, but offset by price inflation of 7%. Consumer goods producers globally have raised prices to cope with surging costs for almost all raw materials, energy and packaging after Russia's invasion of Ukraine compounded pandemic-related supply chain logjams. Inflation in food and non-alcoholic beverages has risen ahead of the consumer price index, with prices of essential items such as sugar, vegetables, meat, eggs, and rice surging by almost 20%, Tig
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