Milk quotas raised to boost output

IOL quotes Vorster as saying that the biggest defence the company has against inflation is raising volume growth and as a result it aims to increase its milk production to 680-million litres over the next 12 months.

He says this would allow the company not to pass on increased costs of milk to consumers and also allow it to absorb higher fixed costs and grow its market share in the highly competitive industry.

Clover's revenue for the year to June grew by 6,1% to R6,5-billion and reported headline earnings that were 822,1% higher at R175,2-million. The sale of Danone Clover and the Boksburg factory resulted in profits from continuing operations dropping from R303,7-million to R184-million.

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View Clover's Annual Report.