The company said in a statement that the outbreak — which has since been
contained — depressed the processed meats and spices markets in the six months
to June, from the previous year. Last week, the government declared an end to
the spread of the disease, which was traced to an Enterprise Foods factory in
Master Plastics also felt the effects of the ongoing debate on land
expropriation without compensation, which it says has affected investment in
the agricultural sector. The company manufactures and provides various products
and solutions to customers operating in the agricultural, food, produce, dairy
and general industrial markets.
Other vagaries included a weaker rand and higher oil prices, which
pushed up polymer input prices. As a result, headline earnings per share are
expected to have dropped by nearly a third in the six months to June, from the
same period a year ago.
“These factors, together with a generally weak economy, an
ever-increasing cost of living and increased taxes have resulted in a platform
not conducive for trading during the first six months,” the company said.
The share price was flat at R1.15 in late trade on the JSE, giving the company
a market valuation of about R135m.
Source: Business Live