Bull Brand owner RFG Foods has lifted group revenue by 2.4% in the 11 months to August, driven by solid domestic performance, but international sales remain under pressure, the group said.
At home, the company’s regional segment grew 5.1%, led by strong volume gains in fresh foods, pies and fruit juice. Dry foods also performed well, even as some long-life categories slowed.
Despite weaker consumer spending in July and August, RFG said it outperformed the market in key categories, showing resilience in its core business.
“Market share data for long-life foods indicates that RFG’s brands are growing ahead of the market in volume terms and in line with the market in value terms. The group’s fruit juice and dry foods brands achieved growth well ahead of the market. The gains in these categories were partially offset by slower revenue growth in the meat, vegetable and pulps and purées categories,” said the company.
International revenue fell 8.4% amid global oversupply of deciduous fruit products and slower demand. Export volumes also dropped 7.7%, with new US tariffs adding uncertainty. The group said post-drought pineapple production in Eswatini is improving, but the recovery is slower than expected, prolonging the segment’s struggles.
RFG said it remains focused on achieving a 10% operating margin and is exploring new markets to offset export risks. Shares in the company rose as much as 2% in the late morning trade after the trading update leaving the company’s current market capitalisation at R3.9bn.
Full-year results for the year ended-September will be released on November 19.
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