Tiger Brands targeting cost savings of R500m

Tiger Brands, South Africa’s biggest food producer, is targeting cost savings of R500 million ($32.50 million) in the 2021 financial year in a plan that includes cutting 400 jobs across the business, Chief Executive Noel Doyle said on Friday.

The owner of popular food brands Jungle Oats and Tastic rice has also concluded a sale agreement for eight non-core personal care brands, among them Gill shampoo and Lemon Lite facial cream, Doyle told reporters on a call.


Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process.

ONLY R63pm

Source: moneyweb.co.za