Rhodes Food ups dividend as operating profit jumps by 24.9%

The Rhodes Food Group [JSE:RFG], SA's leading manufacturer of canned fruit, jams and canned meat, upped its operating profit by 24.9% to R392.2m.

The group, which owns the brands Rhodes, Bull Brand, Magpie and Bisto, published its earnings report for the year ended September 29 on Tuesday. Total group turnover increased by 8.5% to R5.4bn, while headline earnings per share rose 33.3% to 84 cents.

The group's chief executive officer, Bruce Henderson, said in a statement that the results benefited from "robust regional sales, the early signs of recovery in the international business and expanding margins".

The food producer upped its dividend by 37% to 27.9 cents per share. At 10:55, its shares were trading at R16.16 on the JSE, up 0.34% on the day. 

- Compiled by Jan Cronje 

ZAR/USD
17.39
(+0.10)
ZAR/GBP
22.76
(+0.01)
ZAR/EUR
20.58
(-0.02)
ZAR/AUD
12.47
(-0.19)
ZAR/JPY
0.16
(-0.20)
Gold
1943.07
(-0.70)
Silver
26.39
(-3.80)
Platinum
943.00
(-1.66)
Brent Crude
45.01
(-1.03)
Palladium
2103.45
(-2.89)
All Share
57077.48
(-0.60)
Top 40
52737.48
(-0.65)
Financial 15
10156.41
(-0.69)
Industrial 25
75107.47
(-0.84)
Resource 10
58926.78
(-0.40)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1004 votes
It depends on how the funds are used.
74% - 6744 votes
No. We should have gotten the loan elsewhere.
15% - 1416 votes
Vote