Following the sale of its 65.7 per cent in Dangote Flour Mills in December 2015, the South Africa’s consumer foods maker, Tiger Brands, has posted a 19 per cent rise in its full-year profit.
The Chief Executive Officer of the company, Mr. Lawrence MacDougall, disclosed that trading conditions in key markets like Nigeria, Angola and Mozambique are very tough. “Tiger Brands plans to push a wider range of its products into African markets. Higher grain prices has pushed up inflation in South Africa to above 6 per cent which will impact the first half of its 2017 financial year,” he said.
The maker of cereals, baby food and snacks, has said it is reviewing its strategy of expansion in Africa, which accounts for around 20 per cent of its business.