South African food group Clover Industries has seen its profitability come under pressure from drought conditions, weak consumer sentiment and currency "volatility".
Clover Industries, the South Africa-based food group, has published more details on its move to spin-off a business that sells its low-margin milk products.
South African dairy group Clover Industries has forecast lower headline earnings for the six months to 30 December.
South African dairy group Clover Industries today (16 January) confirmed it will take a 51% stake in local olive supplier Olive Pride.
Clover Industries is closing on a deal that would see the South Africa-based dairy group invest in olive supplier Olive Pride.
South African dairy group Clover Industries is restructuring its business to increase its focus on value-added categories and limit its exposure to commoditised products.
South African food group Clover Industries said that its strategy to balance its portfolio by expanding in value-added dairy continued to "gain traction" this year.
Clover Industries reported higher sales and earnings for the first six months of its financial year, as the South African food group branded portfolio and a focus on higher value items enabled it to overcome pricing pressure in African markets.
South African dairy group Clover Industries said it overcame pricing pressure caused by over-supply in the first half of its financial year and forecast an increase in sales and earnings for the period.
South African branded food group Clover Industries booked a jump in full-year earnings on the back of higher selling prices and higher operating margins.
This week's results included an upbeat US snack group Snyder's-Lance reporting higher second-quarter sales and profits, improved half-year revenue and earnings at seafood giant Thai Union and declines at an acquisitive SunOpta.
Clover Industries' move for fellow South African dairy firm Nkunzi Milkway has been cleared - with conditions - by the country's competition authority.
South African dairy group Clover Industries is investing ZAR65m (US$5.3m) to double its production capacity for yoghurt and custard in order to meet demand.
Clover Industries, the South African dairy group, said this morning (17 March) that first-half margins improved thanks to its cost recovery initiatives, boosting the company's profits in the period.
South African dairy processor Clover Industries has forecast half-year earnings will rise by up to 46% on the back of success in pushing up prices.
South African dairy processor Clover Industries has had its bid to buy the yoghurt and milk operations of local rival DairyBelle approved by competition officials - with a condition.
South African dairy manufacturer Clover Industries has witnessed a drop in annual profits on the back of a weakening currency, pressure from commodity costs and industrial action in the country.
South African dairy firm Clover Industries is to buy the yoghurt and milk operations of local rival Dairybelle's for ZAR155m (US$14.9m).
The Consumer Analyst Group of Europe conference dominated news this week with updates from Kraft Foods Group, Glanbia and Nestle. Elsewhere GM was back in the spotlight with the UK Prime Minister's scientific advisers arguing the technology is safe. Also this week the political tensions in Russia and Ukraine saw Metro Group delay an IPO of its Russian cash-and-carry unit and Lidl announced the departure of chairman Karl-Heinz Holland.
Clover Industries' new venture with functional foods firm FutureLife will launch its first products in the second half of the year, the chief executive of the South African dairy processor has told just-food.
Clover Industries has booked higher half-year earnings as the South African dairy firm lapped one-off costs and saw price increases boost sales.
Clover Industries has predicted a 20% rise in headline earnings per share for the six months to the end of December.
South African dairy group Clover Industries said it delivered "positive" results in the second half of its financial year, after headline earnings dropped by one-third in the first half.
South African dairy processor Clover Industries has reported higher half-year profits as an improved product mix and increased volumes helped earnings.
Shares in South African dairy and beverage group Clover Industries rose today (14 December) on their first day of trading in Johannesburg in a listing that has raised ZAR575m (US$84.5m).
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