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MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Tiger Brands Limited    TBSJ   ZAE000071080

TIGER BRANDS LIMITED

(TBSJ)
  Report  
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 11/19
235.79 ZAR   +0.34%
11/08S.Africa's Tiger Brands looking at sale of processed meats business
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06/26TIGER BRANDS LIMITED : Ex-dividend day for extraordinary dividend
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06/26TIGER BRANDS LIMITED : Ex-dividend day for interim dividend
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S.Africa's Tiger Brands looking at sale of processed meats business

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11/08/2019 | 02:54am EST
A couple leaves Tiger Brands factory shop in Germiston, Johannesburg

South Africa's Tiger Brands is exploring the sale of its processed meats business, which was temporarily closed last year following the world's largest ever listeria outbreak, it said on Friday.

The company is facing a class action lawsuit over its role in the incident, in which a listeriosis outbreak that killed more than 200 people in South Africa was traced back to a factory run by Tiger Brands-owned Enterprise Foods.

The country's leading food producer said its Value Added Meat Products (VAMP) division had been earmarked for review prior to that event, and that the review had concluded it was "not an ideal fit" within the portfolio.

Tiger Brands said in a stock market statement that the board had started formal due diligence on Nov. 6 after receiving "several indicative offers". It will further evaluate its options once this is completed, it said.

The unit's revenues slid 79% in the six months to end March, prompting an operating loss of 296 million rand ($20.05 million) as it struggled to get back up and running following the suspension of its operations. It reopened in December 2018.

The company said the prospective sale of the unit does not affect its commitment to the class action process currently underway.

It added that it had decided to close down its Deli Foods business in Nigeria following a review, as the business continued to incur losses despite efforts from management.

Operations ceased in October and all formalities relating to the closure would be completed in the next few months, it said.

($1 = 14.7634 rand)

(Reporting by Emma Rumney; Editing by Jan Harvey)

Stocks mentioned in the article
ChangeLast1st jan.
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 -0.05% 146.525 End-of-day quote.-1.66%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 -0.02% 118.75 End-of-day quote.-4.83%
TIGER BRANDS LIMITED 0.34% 235.79 End-of-day quote.-14.05%
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Financials (ZAR)
Sales 2019 29 388 M
EBIT 2019 3 080 M
Net income 2019 2 542 M
Finance 2019 628 M
Yield 2019 4,26%
P/E ratio 2019 15,7x
P/E ratio 2020 13,9x
EV / Sales2019 1,31x
EV / Sales2020 1,24x
Capitalization 39 045 M
Chart TIGER BRANDS LIMITED
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Technical analysis trends TIGER BRANDS LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Average target price 241,29  ZAR
Last Close Price 235,79  ZAR
Spread / Highest target 20,4%
Spread / Average Target 2,33%
Spread / Lowest Target -17,3%
EPS Revisions
Managers
NameTitle
Lawrence Charles MacDougall Chief Executive Officer & Executive Director
Khotso David Kenneth Mokhele Chairman
Noel Patrick Doyle Chief Financial Officer & Executive Director
Makhuparetja Nyama Independent Non-Executive Director
Maya Makanjee Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
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MONDELEZ INTERNATIONAL31.68%75 893
DANONE21.35%53 577
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GENERAL MILLS, INC.35.88%31 978