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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

RCL Foods of South Africa Posts Improved Earnings

09/12/2021

RCL Foods, a South African conglomerate that controls Rainbow Chicken, with additional interests in sugar, baking, grocery, and feed milling, posted results for Fiscal 2021 ending June 30th.  Revenue attained $2,201 million compared to $1,931 million in Fiscal 2020.  Net earnings attained $69.2 million compared to a loss of $66.6 million in Fiscal 2020.  EPS was 7.7 cents compared to a loss of 7.1 cents for the previous fiscal year. The report did not break down operating units, but it is understood that the EBITDA of Rainbow Chicken declined by 50 percent attributed to higher feed costs.

 

RCL Foods intends to spin off the chicken and sugar segments to concentrate on baking and groceries.


 
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