RFG HOLDINGS, which owns brands such as Rhodes, Bull Brand, Magpie, Squish, Bisto, Hinds, and Pakco, said yesterday that its interims profits increased, boosted by the fruit juice, despite load shedding continuing to impact production output and costs.
In its results for the six months ended April 2, 2023, the group said profit rose by 36.7% year-on-year to R218 million after group revenue improved by 10.2% to R3.8 billion, driven partly by price inflation of 14.8%.
RFG said growth was driven by price inflation of 14.8% and strong trading performances by both the regional and, in particular, the international business in March.
“Slower consumer spending and a competitive environment resulted in volume pressure in certain product categories, with total group volumes declining by 8.5% and negative mix changes…