Tiger Brands’ HEPS from continuing operations increased 34% to 1,021 cents, which falls slightly below the midpoint estimate from their trading statement, within the lower end of the expected range. Interim Revenue rose 2% to R18.5 bn & group operating income jumped 30% to R1.8 bn, driven by volume growth & portfolio optimization. The dividend was hiked 19% to 415 cents & a special dividend of 1,216 cents was announced, supported by R4.3 bn from non-core asset sales (Baby Wellbeing & Carozzi) & a net cash position of R5.9 bn.
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