Wellingtons weighs down on Pioneer Foods earnings

PUBLISHED: Mon, 20 May 2019 15:31:37 GMT

Pioneer Foods has been severely hit by increased inflation rates, lower maize produce and higher fuel prices. The food and beverages company increased its interest bearing debt to over R1500 million. Since the release of the interim results the company share price has tumbled. Joining CNBC Africa to unpack the group’s results is Tertius Carsten, CEO of Pioneer Foods and Nesan Nair Senior Portfolio Manager, Sasfin Securities.

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