RCL Foods’ share price surged 6.6 percent yesterday afternoon after it said headline earnings per share for the six months to December 31 were expected to be between 15.6 percent and 27.3 percent higher than the same period a year before.
Headline earnings a share (Heps) were expected to be between 69 cents and 76 cents compared to the reported Heps of 59.7 cents for the six month period ended December 2020.
Earnings per share was expected to be between 13.6 percent and 25 percent higher when compared with the 61.6 cents for the comparative period.
The expected improvement was due to “pleasing performances from all divisions” and was also due to the base effect of the higher direct costs associated with Covid-19 in the comparative period, the group, which is South Africa’s biggest poultry food producer, said yesterday. The interim results are expected to be released on February 28, 2022.
BUSINESS REPORT ONLINE