Pioneer Foods FY diluted HEPS up 12% to 613c

Low growth and a competitive environment in SA will place significant pressure on Pioneer Foods (PFG) volumes and margins in 2016.

However, the company said on Tuesday that it would continue to optimise its position despite the challenges it faced.

Pioneer Foods reported diluted headline earnings per share (HEPS) of 613c for the year to September 30 2015, up 12% from a year ago.

Revenue from continuing operations climbed 6% to R18.7bn. Adjusted operating profit from continuing operations surged 28% to R2.15bn compared with the year-earlier period.

Pioneer Foods declared a final gross dividend of 237c per share. A gross final dividend of 71.10c per class A ordinary share will also be paid.