Pioneer Foods has said it is expecting a 14.5-18.5% jump in headline earnings per share for its 2014/15 financial year.
to 654.8cents to 678.1cents
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The South African food maker said its sees earnings reaching to 654.8 cents to 678.1 cents for the period ended 30 September.
Operating profit before one-off items is expected to increase between 26.3% and 29.9% year-on-year.
In an update ahead of the publication of its results next month, Pioneer said its turnover grew by 6% despite what it called a "market contraction" in the fourth quarter, maize deflation and increased competition.
The group said its core categories recorded "a solid volume and turnover performance, resulting in market share gains".
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By GlobalDataGroceries – excluding Pepsi and biscuits – recorded a "strong performance" driven by wheat biscuits, cornflakes and long life fruit juice.
Pioneer said its essential foods division, in particular bakeries, "sustained momentum" with a "step change in profitability and margins relative to the prior year".
The company said revenue and profits from its international division "recovered well", bolstered by fruit exports.
