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Sovereign Foods weathers ‘perfect storm’

• Revenue up 25%, sales volumes increase by 18%

• Net asset value of Sov Foods share: R9.72

The Sovereign Foods group has announced subdued results and a loss of 46.5 cents per share during the period under review compared to headline earnings of 108.4 cents per share during the previous year. Chris Coombes, Sovereign Foods CEO, said three unusual events converged to create one the most difficult trading years and testing times in the history of the seven decades-old Eastern Cape company.

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