South African food company Rhodes Food Group Holdings has forecast annual underlying earnings will increase by more than a third.
The Bull Brand canned meats and Hazeldene jam owner said its expects normalised headline earnings per share for the year to 28 September to be 38-43% higher than a year earlier, equating to 36.2 cents to 37.5 cents.
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The normalised earnings strip out restructuring costs incurred by Rhodes in its previous financial year.
On a reported basis, Rhodes forecast headline earnings per share will jump 125-130% to a range of 36.2 cents to 37 cents.
Rhodes listed last month, pledging to use the proceeds to pay down debt and invest in production capacity.
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