Two-year turnaround plan for Tiger Brands’ struggling bakeries division
Competitors such as Pioneer have invested heavily in manufacturing facilities and now have the edge over Albany bread-maker
02 June 2024 - 06:41
Food producer Tiger Brands’ struggling bakery business is likely to take about two years to return to its glory days as the group implements drastic changes in the business that might result in job losses.
The maker of Albany bread said revenue from milling and baking decreased by 16% to R5.1bn in the six months to March, driven solely by volume declines. Bread volumes were negatively affected by the company’s “deliberate strategy to protect naked margins by not participating in some of the heavy discounting that took place in the previous year”, it said. ..
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