Premier Group Financials look Green

Founded in 1820 with a rich history spanning 200 years, Premier has enjoyed an exciting new journey over the past few years following Brait acquiring a majority shareholding and pursuing a strategy to broaden their footprint in the FMCG market. Its biggest competitor in south Africa is Famous brands

Some of you may know a few of the brands it owns e.g., Blue Ribbon bread, Iwisa, super sun and Snowflake.it also has operations outside of south Africa e.g., Mozambique, Eswatini, Lesotho and Birmingham in Europe

on Tuesday, Premier said it is pleased with the group’s ability to present good results despite having to operate under trading conditions marred by high commodity prices, load shedding and decreasing consumer buying power.

Operating profit for the period was 28% to R1.3 billion, while earnings before tax, depreciation, amortisation and impairment losses (adjusted EBITDA) was 16.2% higher at R1.7 billion.

Group revenue for the period came in 23 % stronger comparing to the previous year, largely driven by revenue increases in the Millbake as well as the groceries and international divisions, which reported 25 % and 14 % increases respectively.

The acquisition of Mister Sweet expanded Premier’s offering significantly in the growing private label category

Premier’s board has opted to withhold dividends for the current period as its listing on the main board came just a few days before the end of the reporting period.

It is a good decision by the broad to not declare any dividend as the Europe market may suffer a decrease in sales due to a few European economies are expected to post negative sequential GDP growth in 2023. and also in south Africa considering the interest rate being hiked and there is an expected decrease of 2% in the GDP in 2023

You can visit their website to view their financial results and presentation on the link below

Premier (premierfmcg.com)