A recall of its canned vegetables and the July unrest put a damper on Tiger Brands annual performance.
In July, Tiger Brands recalled 20 million KOO and Hugo canned vegetable products, while the unrest in KwaZulu-Natal and Gauteng that resulted in looting and destruction of stores and factories.
On Friday, in its results for the year ended 30 September 2021, Tiger Brands said the the recall and unrest cost the company in R732 million once-off costs.
Tiger Brand’s revenue increased by 4% to R31 billion, for the year, however its headline earnings per share fell 6% to 1 127 cents per share.
The company declared a final ordinary dividend of 506 cents per share for the year and an interim ordinary dividend of 320 cents per share.
The group also owns brands like Black Cat, Jungle and Mrs Balls.