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Clover shares dive on profit warning

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Cape Town - Clover Industries Limited [JSE:CLR] warned on Wednesday that owing to a lackluster operating environment it expects a drop in headline earnings per share (Heps) of up to 25%, sending the share price tumbling.

The share price dropped more than 11% to R16.16 from its previous close, but by market close the share recovered some of its losses to trade at R17.69 (-5.6%).

The food and beverages company expects to release its annual financial results for the year ended 30 December 2016 in the first week of March 2017.

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