Pioneer Foods H1 Earnings And Sales Dip

Leading South African food and drink company Pioneer Foods has reported a decline in H110 (six months to March 2010) earnings. Headline earnings per share dipped more than 50% year-on-year (y-o-y) to ZARc81.7 while sales revenues fell 5% y-o-y to ZAR8bn (US$1bn). Almost all of South Africa's leading food and drink companies have been forced to become more price-focused over the past eighteen months, as weak household finances and high unemployment have weighed down

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