Rhodes Food ups dividend as operating profit jumps by 24.9%

The Rhodes Food Group [JSE:RFG], SA's leading manufacturer of canned fruit, jams and canned meat, upped its operating profit by 24.9% to R392.2m.

The group, which owns the brands Rhodes, Bull Brand, Magpie and Bisto, published its earnings report for the year ended September 29 on Tuesday. Total group turnover increased by 8.5% to R5.4bn, while headline earnings per share rose 33.3% to 84 cents.

The group's chief executive officer, Bruce Henderson, said in a statement that the results benefited from "robust regional sales, the early signs of recovery in the international business and expanding margins".

The food producer upped its dividend by 37% to 27.9 cents per share. At 10:55, its shares were trading at R16.16 on the JSE, up 0.34% on the day. 

- Compiled by Jan Cronje