RCL FOODS is a South African food manufacturer with nearly 16 500 employees producing 30 much-loved brands. These include Yum Yum peanut butter, Nola mayonnaise, Ouma rusks, Pieman’s pies, Number 1 mageu, Sunbake and Sunshine bread, Supreme flour, Selati sugar, Simply Chicken, Rainbow chicken, Bobtail and Catmor pet food, and Epol and Molatek animal feed.

Key Features

• Load‐shedding impacts all operations
• Volumes and margins under pressure in a challenging trading environment
• Earnings materially impacted by sugar industry special levy
• Key Grocery brands continue to grow despite declining market
• Strong underlying Sugar performance
• Rainbow turnaround hampered by unrecovered feed costs
• Disposal of Vector Logistics completed on 28 August 2023

We have weathered a tremendously difficult 12 months, delivering a solid underlying performance in our core Value-Added Business while negatively impacted by continued unrecovered cost pressure in Rainbow. Given the key role that we play in maintaining food security and employment in South Africa, we have focused on ‘controlling the controllables’ to deliver a stable profit while supporting cash-strapped consumers. This has included careful management of price increases, value innovation, operational efficiencies and better understanding consumer needs. As a Group we are committed to being part of the solution for a more stable and prosperous future for all South Africans.”

Paul Cruickshank, Chief Executive Officer

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