South Africa's Tiger Brands warns of price hikes due to Iran war

Tiger Brands warned of targeted price hikes to offset supply-chain risks from geopolitical uncertainty, including the Iran war, in its six months ended March 31. The Johannesburg-listed food maker reported HEPS from continuing operations of 9.80 rand, up 0.6%, and revenue of 17.9 billion rand, up 1.3%; like-for-like volume growth was 4.5%.

Shareholders saw a roughly 2% rise after the results. The company will expand distribution in informal markets, a move that CFO Thushen Govender said would lift monthly fuel costs to about 25 million rand. Tiger Brands plans inflationary-containment measures and targeted price increases; it will retain King Foods and sell parts of Beacon chocolate.