Tiger Brands has experienced a difficult six months, citing the shift in leadership, a tough market landscape, and consumer spending limitations as primary factors. On Monday, Tiger Brands announced an 11% rise in headline earnings per share (Heps) and a 9% increase in its interim dividend for the six months ending 31 March 2024. However, the company faced challenges in the first half, with revenue from continuing operations dropping 1% to R19.2 billion and group operating income falling 3% to R1.3 billion. The market’s focus was on the group’s operating performance, leading to a nearly 1.5% decline in the share price of Africa’s largest listed manufacturer of fast-moving consumer goods on the JSE.
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