Clover H1 HEPS jumps 41.3% to R199.3m

Clover Industries has delivered a 41.3% increase in half-year earnings to R199.3m after it increased selling prices.

The branded consumer goods said on Tuesday, 17 March 2015, the move aimed to recover increases in the price of raw milk and other costs during the previous year.

The company said the selling price increases had also provided for expected inflationary cost increases during the current financial year.

Revenue in the six months to December was up 7.9% to R4.7bn and net profit increased 28.5% to R210.5m.

The company declared an interim dividend of 22.6c per share‚ up 41.3% from the year-earlier period. Headline earnings per share were up 41.3% to 109.2c.

Source: BDpro via I-Net Bridge