RCL Foods is to axe over 1,000 staff as the South African food group battles tough trading conditions in the country's poultry industry.
RCL Foods, the South African food group, has warned the country's poultry industry is in "crisis", with the company admitting it is weighing up "all options" as it looks at its own business in the sector.
RCL Foods, the South African group, has warned annual earnings will come in lower than those generated in the previous 12 months, hit by an impairment on its milling business and the effects of the recent drought on its sugar and chicken operations.
RCL Foods, the South Africa-based peanut butter-to-poultry supplier, has cautioned the recent drought in South Africa and the weak rand could lead to inflation and affect margins.
South African food company RCL Foods has reported a jump in earnings and sales for the full year.
South African food firm RCL Foods has entered into an agreement with Uganda's Hudani Manji Holdings to acquire a 33.5% stake in the business for US$4.7m.
South African group RCL Foods has acquired local business TSB Sugar as its bid to diversify its business continues.
RCL Foods, formerly known as Rainbow Chicken, has seen full-year earnings plummet despite a jump in sales as weaker margins hit the bottom line.
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