Earnings per share are expected to be between 80% and 90% higher than the 46.4c achieved in the corresponding period last year.
Clover attributed the rise to the non-recurring marketing investments in new product launches made during the first half of 2013; the two price increases last year; reduced promotional activities following the selling price increases; the positive contribution of project Cielo Blu; various cost saving initiatives and exchange rate profits made by certain African subsidiaries from the weakening rand.
Clover cautioned shareholders that it did not expect this level of earnings improvement to continue into the second half of the financial year because of strong overall inflationary cost pressures specifically relating to raw milk‚ packaging and fuel costs; and the negative impact of the high inflationary environment on consumers.
Clover expects to release its interim results in March
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
