South Africa: Clover Industries predict 20% in earnings

Clover Industries has predicted a 20% rise in earnings per share for H2 2013.

In a statement to the stock exchange, the South Africa dairy processor Clover Industries attributed the rise in earnings to reduced marketing spend , having heavily invested in product launches in the comparable period of the previous year. It also reported that it had been boosted by higher selling prices for its products.

However, the company also cautioned that the rise will also be highly dependent on sales over the festive season.

A further trading statement for the 6 months will be issued later confirming figures for the six months ended 31 December 2013, the company concluded.

Source: Just Food