Tiger Brands Surges with 11% Profit Rise Amid Cost Hike

South Africa's largest food producer, Tiger Brands, reported an 11% rise in half-year profit despite higher input costs. The company, known for Jungle Oats and Koo baked beans, increased prices but faced constrained customer spending. Headline earnings per share rose to 808 cents, and an interim dividend of 350 cents per share was declared.

South Africa's Tiger Brands on Monday reported a 11% rise in half-year profit, as the country's biggest food producer hiked prices to recover higher input costs but not enough to drive volume growth due to constrained customer spending. The owner of Jungle Oats and Koo baked beans said its headline earnings per share from total operations, a key profit measure in South Africa, rose to 808 cents in the six months ended on March. 31, from 731 cents a year ago.

It also declared an interim dividend of 350 cents per share, up 9%.