Rhodes Food Group declares maiden dividend of 24.8c per share

23 Nov 2015

Rhodes Food Group said on Monday its business had generated strong operating cash flows in the year ended 27 September 2015.

Rhodes Food Group declares maiden dividend of 24.8c per share

RhodesFoodGroup.com

The group declared a maiden dividend of 24.8c per share.

Rhodes listed on the JSE in October 2014. It produces convenience foods for distribution in Southern Africa and global markets.

In the period under review, Rhodes reported a 23.7% rise in turnover from a year ago, to R3bn.

Normalised headline earnings per share showed growth of 136.9% to 87.4c, while profit after tax climbed 105.9% from a year earlier, to R169.8m.

In the past year, the share price has risen 87%.

At the close of the JSE on Friday, shares were trading at R22, valuing the company at about R4.9bn.

The group's product range includes canned fruit, jam, vegetable and meat products, fresh ready-made meals, pies, pastries and dairy products. Some of the group's brands are Magpie, Bull Brand, Hazeldene, Portobello and Trout Hall.

Source: BDpro

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