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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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Mpact Plastics FMCG division, leading producer of rigid plastic packaging in SA

This multifaceted business, which ranks among the top players in South Africa’s multi-billion-rand plastics packaging sector and serves a multitude of blue-chip customers, manufactures a range of packaging products for the food, beverage, personal care, homecare, pharmaceutical, agricultural and retail markets, primarily in South Africa. Raw materials are sourced from a number of South African and international suppliers.

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