RFG Holdings reports 9.7% decline in headline earnings

RFG Holdings, the JSE-listed food manufacturing company said headline earnings fell 9.7% to R521 million in the year to September 28 while contingency plans were being adopted to counter higher US tariffs.

- EDWARD WEST

SOME of RFG Holdings' key brands are photographed above. A proposal for it to be acquired by Premier Foods through a share swap agreement is scheduled to be voted on by RFG's shareholders on December 11, 2025.

(SIMPHIWE MBOKAZI African News Agency (ANA))

Group revenue for the company, which is in the process of being acquired by Premier Group in a share swap deal, increased by 1.6% to R8.1 billion, with regional revenue up 4.1% to R6.6bn. The total dividend fell 10.4% to 99.6 cents a share.

RFG management said the impact of the increased tariffs on South African exports to the US remained uncertain. However, the higher tariffs had reduced RFG's price competitiveness, and some existing customers were sourcing from producers in countries with a tariff advantage relative to South Africa.

"In response to the risk to sales, the group is implementing contingency plans to increase exports into other existing geographies and to pursue new market opportunities," management said.