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<p>Tiger Brands reported a 21 per cent rise in headline earnings per share as revenue gained 8 per cent. The company noted strong revenue growth in the first quarter of the financial year and said it also clamped down on costs. Tiger Brands CEO, Noel Doyle joins CNBC Africa for more.</p>


Tiger Brands posts 21% increase in earnings

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<p>Tiger Brands has reported a 23 per cent drop in headline earnings per share. The results reflect the challenges faced by the company in maintaining margins. Lockdown measures created favourable tailwinds in some areas, with corresponding headwinds in others. Tiger Brands CEO, Noel Doyle joins CNBC Africa for more.</p>


Tiger Brands reports 23% drop in headline earnings


<p>JOHANNESBURG (Reuters) &#8211; South African food producer Tiger Brands has entered into two separate sale agreements for its processed meats units for 428 million rand ($24.68 million), it said on Monday.</p>



<p>Molare Proprietary Limited will buy the abattoir business at Olifantsfontein while the meat processing factories at Germiston, Polokwane and Pretoria will be acquired by Silver Blade Abattoir Proprietary Limited, a wholly-owned subsidiary of Country Bird Holdings.</p>



<p>($1 = 17.3430 rand)</p>


Enerprise_corned_meats

South Africa’s Tiger Brands to sell processed meats units for $24.6 mln


<h3 class="wp-block-heading">KEY POINTS</h3>



<ul><li>Tiger Brands scraps dividend</li><li>Gets burnt in Nigeria again </li></ul>



<figure class="wp-block-image alignwide size-large"><img loading="lazy" decoding="async" width="1110" height="860" src="https://www.cnbcafrica.com/wp-content/uploads/2020/05/Noel-1-2-scaled-e1590398289735-1110x860.jpg" alt="" class="wp-image-372195" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Noel-1-2-scaled-e1590398289735-1110x860.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Noel-1-2-scaled-e1590398289735-300x233.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Noel-1-2-scaled-e1590398289735-1536x1191.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Noel-1-2-scaled-e1590398289735-696x540.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Noel-1-2-scaled-e1590398289735-1068x828.jpg 1068w" sizes="(max-width: 1110px) 100vw, 1110px" /><figcaption>Noel Doyle, CEO, Tiger Brands</figcaption></figure>



<p>Food giant Tiger Brands has passed on paying a dividend as it faces job losses and cost-cutting in its operations after a bruising first half trading on the cusp of COVID-19 that saw operating income drop by 29% to R1.1 billion and a squeeze on profit margins, in the six months to March 31. A settlement in a long-running trademark dispute in Nigeria and the fall in the rand also cost the company dear in the first-half numbers.</p>



<p>Profit margins declined to 7% because of lower volumes, rising raw material and conversion costs greater than inflation and increased marketing investment.&nbsp; Headline earnings per share (HEPS) from operations dropped 35% to 501 cents. Tiger Brands warned before the results that it was facing a write-down of R557 million.</p>



<p><strong>For more COVID-19 coverage visit: </strong><a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a> </p>



<p>“This was a challenging and disappointing performance,” says Tiger Brands CEO Noel Doyle.</p>



<p>“Across every category margins and operating profit is expected to decline meaning we can’t recover costs and show growth at the same time.”</p>



<p>Doyle said the company was starting to look through its operations at jobs and costs.</p>



<p>“In terms of job losses it is difficult to give a number at this stage. If the business trajectory continues we do expect as we work through each category there are likely to be job losses, but we haven’t yet engaged internally, we wouldn’t want to put any numbers,” says Doyle.</p>



<p>“We expect to make greater savings from other savings like value improvements, not job cuts, but they (job cuts) will be at the end of the process,&nbsp; it is not the first lever we will pull.”</p>



<h2 class="wp-block-heading">A second time</h2>



<p>Tiger Brands also admitted it has burnt its fingers in Nigeria for the second time within a decade. This time it was a trademark dispute in court over brands:&nbsp; Jolly Jus drink and Benny seasoning.</p>



<p>“We had an ownership dispute that was tied up in litigation in court and we couldn’t export our product to Nigeria. That litigation was going to go on for years so we had to make a commercial decision. The settlement was agreed in principle and we are taking it to court. The settlement was R71 million and the profits at stake were worth more than that.”</p>



<p>Jolly Jus and Benny are the only Tiger Brands names left in Nigeria – a country surely the South African company wants to forget. Tiger Brands began a foray in Nigeria, in 2012, when it bought a 63% stake in struggling Lagos Flour Mills from billionaire Aliko Dangote for $182 million. It was part of a board-driven expansion across the continent.</p>



<p>Unfortunately for Tiger Brands, its executives didn’t understand the complexities of operating the mills, or the complications of the Nigerian market. It sold it back to Dangote, for a song, in 2015, suffering a $120 million write off.&nbsp;&nbsp;&nbsp;</p>



<p>Doyle said that the company had passed on paying a dividend for now.</p>



<p>“We have passed on a dividend. Should circumstances allow it could change, we are predicting&nbsp; now how we are going to declare a final dividend that makes up for the lost interim dividend.”</p>



<p></p>


Noel 1 (2)

Ouch! How Tiger Brands got its fingers burnt in Nigeria for the second time in a decade

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<p>Food producer Tiger Brands reported a 35 per cent fall in half-year headline earnings and has deferred its interim dividend due to uncertainty by the Covid-19 outbreak. The group expects Covid-19 to unfold significant challenges to the business in the near future. Tiger Brands CEO, Noel Doyle joins CNBC Africa for more.</p>


Tiger Brands CEO on results & how the company is responding to COVID-19 shocks

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<p>The rand’s crash to record lows may cost Tiger Brands in excess of R600m in import costs. While restrictions on increasing prices during South Africa’s 21 Day lockdown could also impact earnings even though the company supported the measures. Tiger Brands CEO, Noel Doyle joins CNBC Africa for more.</p>


Tiger Brands mulling executive pay cuts during COVID-19

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<p>South African food giant Tiger Brands is still recovering from the 2018  listeriosis crisis and the unbundling of the Company&#8217;s interest in Oceana to Brimstone which saw the group operating income and headline earnings drop by 20 per cent and 17 per cent respectively. CNBC Africa&#8217;s Fifi Peters spoke with Tiger Brands CEO, Lawrence MacDougall for more.</p>


Tiger Brands CEO: We are on the road to recovery from listeriosis outbreak

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<p>The Johannesburg high court has granted the families of listeriosis survivors and their next of kin the opportunity to institute a class action against Tiger Brands. It is expected that more than 1000 claims will be brought forward. Tiger brands responded by saying it will spend R1 million to help the class action process. Joining CNBC Africa for more is Mary Jane, Chief Corporate Affairs Officer, Tiger Brands.</p>


Tiger Brands welcomes high court’s certification of listeriosis class action

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<p>South African health officials have cleared Tiger Brands&#8217; meat processing facility for production. Tiger brands&#8217; Chief Corporate Affairs Officer, Mary-Jane Morifi joins CNBC Africa for more.</p>


Tiger Brands meat products back on the shelves

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<p>Tiger Brands recently confirmed presence of the LST6 listeria strain in samples taken from its Enterprise Polokwane processed meat factory. And according to reports imported meat products have been said to be linked to listeria outbreak in SA.</p>


Debunking myths about #listeria is important, here’s why

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<p>It has been almost 3 weeks since Tiger Brands has announced a recall of their chilled cold meat products. About 3 of their production sites have been temporarily closed and the company braces for the financial burden.</p>


Tiger Brands: The cost of #Listeria

<p>South Africa’s Tiger Brands said on Monday it expected its meat products unit to record a monthly loss of up to 33 million rand ($2.7 million) after it suspended operations at four sites after a listeria outbreak that has killed 180 people in 14 months.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-19643 size-full" src="http://cnbc.africa/wp-content/uploads/2017/01/tiger_brands.png" alt="S.Africa's Tiger Brands Q1 sales up 10%" width="422" height="350" /></p>
<p class="">Health authorities ordered a recall of processed meat known as polony made by Tiger Brands and RCL Foods two weeks ago in response to the outbreak, the worst ever documented with nearly 950 reported cases.</p>
<p class="">Tiger Brands said the potential losses, which it estimated at 28-33 million rand, were for March.</p>
<p class="">In addition, the food producer said it was taking a 337-377 million rand pre-tax hit due to the costs of a product recall and suspension of production at its Polokwane, Germiston, Pretoria and Clayville sites.</p>
<p class="">($1 = 12.0264 rand)</p>
<p>&nbsp;</p>


S.Africa’s Tiger Brands flags loss at meat unit after listeria outbreak

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<p>RCL Foods’ Wolwehoek polony plant in the Free State has been cleared as a suspect in listeria deaths by tests done by a French laboratory. In a statement the ST6 listeria strain blamed for more than 180 deaths had not been found in its factory.</p>


RCL is not in the clear for #Listeria – Health Minister

<p class="first-p_2htdt">The worst listeria outbreak on record is only in its early stages and will likely infect more people in South Africa and the region, health minister Aaron Motsoaledi said on Thursday.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-301874 size-full" src="http://cnbc.africa/wp-content/uploads/2018/03/Tiger-Brands_GettyImages.png" alt="" width="850" height="530" /></p>
<p class="">The infection which can hit the blood system and brain has killed 180 people in South Africa since January last year. Neighbouring Namibia reported its first case on Tuesday and said the victim was fighting for his life in hospital.</p>
<p class="">“We are just at the beginning and we must expect other cases to emerge,” Motsoaledi told reporters after meeting health ministers from across the region.</p>
<div></div>
<p class="">He said he was expecting more cases to be reported across southern Africa, without elaborating.</p>
<p class="">The government has linked the outbreak to “polony” &#8211; low-priced processed meats that are mostly consumed by the poor.</p>
<p class="">South African food producer Tiger Brands, which makes polony, said on Friday a department of health report had confirmed the presence of the LST6 listeria strain its factory in the northern city of Polokwane.</p>
<p class="">Authorities are also investigating a plant owned by RCL Foods that makes a similar sausage product, though they have not reported any discoveries of listeria.</p>
<p class="">Both companies, which say they are cooperating with the authorities, suspended processed meat production at their plants after health authorities ordered a recall of the products both at home and abroad.</p>
<p class="">Kenya, Zimbabwe and Zambia have banned imports of South African processed meat, dairy products, vegetables and fruit. Mozambique and Namibia halted imports of the processed meat items and Botswana said it was recalling them. Malawi stepped up screening of South African food imports.</p>
<p class="">Motsoaledi said he was concerned about an incident when health ministry inspectors had been barred from entering the factory operated by Tiger Brand’s unit Enterprise Foods in Polokwane.</p>
<p class="">“We had to seek police to accompany them,” Motsoaledi told Reuters after the meeting.</p>
<p class="">Tiger Brands said it had apologised for the incident but said the inspectors had not had a letter authorising entry.</p>
<p class="">“Since the health official had not been to the Polokwane facility prior, the security team said there were strict protocols for entry,” said Tiger spokeswoman Nevashnee Naicker.</p>
<p class="">A human rights lawyer said over the weekend he would launch a class action lawsuit against Tiger on behalf of the families of people who died.</p>
<p class="">Tiger Brands Chief Executive Lawrence McDougal said last week that there was no direct link between the deaths and its processed cold meat products.</p>
<div class="container_28wm1">
<div class="attribution_o4ojT">
<p class="content_27_rw">Writing by James Macharia; Editing by Andrew Heavens</p>
</div>
</div>


S.Africa’s listeria outbreak in early stages, will spread – minister

<p>Ilse Struweg | <em>University of Johannesburg</em></p>
<p>Tiger Brands, the South African food giant at the centre of the listeriosis storm engulfing the country, is facing serious brand erosion as a result of the way it handled the unfolding crisis.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-301874 size-full" src="http://cnbc.africa/wp-content/uploads/2018/03/Tiger-Brands_GettyImages.png" alt="" width="850" height="530" /></p>
<p>&nbsp;</p>
<p>It could have responded better.</p>
<p>Tiger Brands was thrown into the centre of the listeriosis storm after South Africa’s National Institute for Communicable Diseases announced that its investigation had traced the origins of the disease to one of the company’s biggest meat processing plants. The culprit was identified as polony from the Enterprise Foods facility that produces a range of cold meats. Tiger Brands, a $2.5 billion Johannesburg Stock Exchange listed business, owns Enterprise Foods among other continent wide popular food brands.</p>
<p>South Africa has been struggling with the listeriosis outbreak for 14 months. Unable to find the source of the affected products, the outbreak developed into the worst case of listeriosis in the world. By the end of February 2018, health authorities had confirmed 948 cases with 180 fatalities.</p>
<p>The repercussion was always going to be unforgiving. But Tiger Brands has not helped the situation. It has overlooked a number of the accepted protocols of handling a crisis of this nature. As a result, the company’s brand equity is taking serious strain.</p>
<h2>The brand erosion</h2>
<p>Tiger Brands compromised its brand equity in three key areas.</p>
<p>Tiger Brands could have been more rapid in its responses. The source of the listeriosis outbreak was announced by South Africa’s Health Minister, Aaron Motsoaledi, at midday on Sunday 4 March 2018. He announced that Tiger Brands had been issued with safety recall notices. But the company only held a media briefing a day later. Given that the minister would have given the company advanced warning (even before the official media briefing), its response was far too slow.<strong>Response speed:</strong> An organisation’s survival in a crisis, particularly when lives are at risk, depends enormously on the speed of its responses.</p>
<p><strong>Continued strategic engagement:</strong> Since the media conference, the company has engaged in very limited meaningful communication that would have helped it reclaim some brand equity. Organisations need to understand that in a crisis, they are competing with every form of media – including social media – to tell their story.</p>
<p>If organisations don’t keep engaging with stakeholders, others in the media fill the vacuum. It also leaves the door wide open for speculation and innuendo.</p>
<p>The lack of engagement inevitably raises concerns about how transparent the company has been in handling this crisis.</p>
<p><strong>Compassion:</strong> In its scant communication Tiger Brands failed to show compassion – an essential ingredient for navigating a crisis of this magnitude. Unless the organisation acknowledges how its audience is feeling, which Tiger Brands failed to do, any organisation in crisis is fighting an uphill battle. The company’s lack of compassion meant that the company came across as cold and unsympathetic. By showing compassion, an organisation creates a bond and puts audiences in a receptive state, key components to any successful communication.</p>
<p>Tiger Brands will be remembered for trying to deny responsibility and refusing to apologise. This impression was created by ill-advised comments made by the company’s CEO Lawrence MacDougall when he was grilled by journalists. In one response he said:</p>
<p><strong><em>&#8220;There has been no direct correlation between our products and the deaths yet, so we are unaware of any direct link.&#8221;</em></strong></p>
<p>The fact that the crisis had led to 180 deaths called for a dose of compassion, not a defensive response.</p>
<h2>What now for Tiger Brands?</h2>
<p>Tiger Brands will have to embark on serious brand rehab. To achieve that it will have to be totally transparent in the management of the crisis, engage strategically with stakeholders and be mindful of the tone of its engagement. The company will have to become more visible and must be seen to be a critical part of solutions.</p>
<p>But it’s also important to point out that the listeriosis crisis goes beyond Tiger Brands. It isn’t just a crisis for the company. The outbreak has had a major impact on food outlets – big and small – in the country. It has also affected companies and consumers beyond South Africa’s borders, so much so that the crisis could do long lasting damage to the country’s cold meats industry.</p>
<p>All stakeholders related to the listeriosis crisis, including the South African government, the National Institute for Communicable Diseases and the processed meat industry, should step away from trying to face the crisis on their own. They should also stop trying to shift responsibility. Instead they should think of working together.</p>
<p>This calls for a completely different approach to brand rehab after a crisis. It calls for a systems approach that envisages all the affected parties understanding that they are inter connected. In a cooperative, integrated system like this the equity of the one organisation’s brand is linked with the equity of other brands and institutions in the system.</p>
<p><img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/93210/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" />South Africa needs to take a more collective approach if it’s going to deal with the crisis effectively.</p>
<p><em>This article was originally published on The Conversation. </em></p>


Three major mistakes Tiger Brands made in response to the listeriosis crisis

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<p>Gauteng Finance MEC Barbara Creecy tabled the Gauteng budget for the current financial year and education and Health have once again claimed the lion’s share of the spending, both getting over R45 billion.</p>


How Gauteng plans to deal with listeria

<p>South Africa said on Monday producers of cold meat products were to blame for delays in tracing the cause of the world’s worst listeria outbreak, which has killed 180 people in the past year.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-300987 size-full" src="http://cnbc.africa/wp-content/uploads/2018/03/sausages_Public-Domain.jpg" alt="" width="1920" height="1280" /></p>
<p class="">As shoppers queued up to return processed meat items and demand refunds, shares in the biggest food firm in Africa’s most industrialised economy, Tiger Brands, tumbled because of its link to the outbreak that has spread since January 2017.</p>
<p class="">The government, which has been criticised for taking too long to find the cause, had on Sunday linked the outbreak to a meat product known as “polony” made by Tiger’s Enterprise Food.</p>
<p class="">It also said it was investigating a plant owned by RCL Foods that makes a similar product, whose shares also slid on Monday before recovering.</p>
<p class="">Both companies, which say they are cooperating with the authorities, suspended processed meat production at their plants after health authorities ordered a recall of cold meats associated with the outbreak from outlets at home and abroad.</p>
<p class="">The U.N. World Health Organization called the outbreak the largest ever recorded globally, after 948 cases were reported since January 2017. Listeria causes flu-like symptoms, nausea, diarrhoea and infection of the blood stream and brain.</p>
<p class="">South Africa’s Health Ministry said the source was found after pre-school children fell ill from eating polony products traced to processed meat producers.</p>
<p class="">“The meat processing industry was not cooperating for months. They did not bring the samples as requested. We had long suspected that listeria can be found in these products,” the ministry’s communications director, Popo Maja, told Reuters.</p>
<p class="">“It is not that we are incompetent, or that we have inadequate resources,” Maja said when asked why it had taken more than a year to find the cause of listeria.</p>
<p class="">He said all firms in the industry were being examined.</p>
<p class="">South Africa’s processed meat market grew about 8 percent in 2017 to a retail value of $412 million, according to Euromonitor International. Tiger Brands has a 35.7 percent market share, followed by Eskort Bacon Co-Operative with 21.8 percent. Rhodes Food, RCL Foods and Astral Foods each have less than 5 percent.</p>
<p class="">Tiger Brands, Eskort, RCL Foods, Rhodes and Astral said they had complied with all requests from the health authorities.</p>
<p class="">Lawrence McDougall, the CEO of Tiger Brands, said there was no direct link between the deaths and its cold meat products. “We are unaware of any direct link,” he told a media briefing.</p>
<p class="">Health Minister Aaron Motsoaledi had said on Sunday the outbreak had been traced to a Tiger Brands factory in the northern city of Polokwane.</p>
<p class="">The authorities are also examining a second Tiger Brands factory and have not said when they could conclude tests on RCL Foods, which has a plant under investigation.</p>
<p class="">Rhodes said it produced processed canned meat, different from the cold processed meat made by rivals. Astral said it produced fresh and frozen chicken, not polonies and items linked to the outbreak. Both those firms said their products were safe.</p>
<p class="">Fast food chain owner Famous Brands said it was recalling ready-to-eat meat products from its retail outlets.</p>
<h3>CLEANING FRENZY</h3>
<p class="">The minister told South Africans not to consume any ready-to-eat processed meat due to the risk of cross-contamination.</p>
<p class="">The announcement prompted a frenzied clearing and cleaning of the shelves by local supermarkets chains Shoprite, Pick n Pay, Spar and Woolworths, which also urged consumers to return the meats for refunds.</p>
<p class="">Neighbouring states acted swiftly. Zambia banned imports of South African processed meat, dairy products, vegetables and fruit. Mozambique and Namibia halted imports of the processed meat items and Botswana said it was recalling them. Malawi stepped up screening of South African food imports.</p>
<p class="">Shares in Tiger Brands sank as much as 13 percent, before recouping some losses to close 7.4 percent lower at 393.38 rand. RCL Foods fell more than 6 percent but later recovered to trade down just 0.5 percent at 17.11 rand.</p>
<p class="">Dozens of customers lined up outside a Tiger Brands outlet with bags of cold meat products and demanding their money back.</p>
<p class="">“I lost trust with Enterprise. I’ll be scared even if they say this problem is solved. I would rather go back to peanut butter and jam,” said call centre agent Tshepo Makhura, 37.</p>
<p class="">Deline Smith, a 57-year-old housewife with three full bags, said: “I hope my grandchildren are going to be okay because we gave them food over the weekend from these parcels.”</p>
<p class="">Analysts said profits at the two firms were unlikely to be hit hard. Standard Bank analyst Sumil Seeraj estimated the recall would cut operating profit at Tiger Brand’s value added foods division by 6 percent at most.</p>
<p class="">“The big hit is going to come with inventory write-offs because they are recalling all these products. That’s most likely where they will lose because the inventory write-off will affect operating profit from that division,” Seeraj said.</p>
<p class="">The Enterprise unit of Tiger Brands had “a very strong brand in meat”, he said, adding: “In the short term consumers will switch to other forms of protein.”</p>


Tiger Brands

Tiger Brands posts 21% increase in earnings

Tiger Brands reports 23% drop in headline earnings

South Africa’s Tiger Brands to sell processed meats units for $24.6 mln

Ouch! How Tiger Brands got its fingers burnt in Nigeria for the second time in a decade

Tiger Brands CEO on results & how the company is responding to COVID-19 shocks

Tiger Brands mulling executive pay cuts during COVID-19

Tiger Brands CEO: We are on the road to recovery from listeriosis outbreak

Tiger Brands welcomes high court’s certification of listeriosis class action

Tiger Brands meat products back on the shelves

Debunking myths about #listeria is important, here’s why

Tiger Brands: The cost of #Listeria

S.Africa’s Tiger Brands flags loss at meat unit after listeria outbreak

RCL is not in the clear for #Listeria – Health Minister

S.Africa’s listeria outbreak in early stages, will spread – minister

Three major mistakes Tiger Brands made in response to the listeriosis crisis

How Gauteng plans to deal with listeria

South Africa blames food firms for world’s worst listeria outbreak

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Tiger Brands

Tiger Brands posts 21% increase in earnings

Tiger Brands reports 23% drop in headline earnings

South Africa’s Tiger Brands to sell processed meats units for $24.6 mln

Ouch! How Tiger Brands got its fingers burnt in Nigeria for the second time in a decade

Tiger Brands CEO on results & how the company is responding to COVID-19 shocks

Tiger Brands mulling executive pay cuts during COVID-19

Tiger Brands CEO: We are on the road to recovery from listeriosis outbreak

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