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Tiger Brands year end financial results

Tiger Brands (JSE: TBS), South Africa’s leading fast moving consumer goods manufacturer posted a solid set of results for the year ended 30 September 2016, testament to the strength of its brands and ability of its leadership to navigate the difficult environment. The company recorded an increase in group turnover from continuing operations of 11 percent to R31,7bn, while group operating income rose 5% to R4,2bn.

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Manufacturing stuck in a rut

According to IOL Weak demand continues to dog the South African manufacturing sector, according to the Absa Manufacturing Survey, which was released on Wednesday. Domestic demand indicators fell further into negative territory compared to the first quarter of 2016.

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Late payments by government restrict cash flow amongst SA businesses

Delayed payments by government organisations and large corporates are putting financial strain on many South African businesses, as these delayed payments are restricting cash flow and growth. This is according to Gary Palmer, CEO of Paragon Lending Solutions, who says that in order to maintain healthy cash flow levels and for businesses to stay afloat while waiting for payment from clients, many businesses are turning to alternative lenders to obtain the much needed capital.  

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Trade conditions remain tight, warns SACCI

Uninspiring economic growth, difficulties in recovering from labour disruptions, the financial pressures facing households and below-par export volumes were contributing to restrained trade conditions, with the South African Chamber of Commerce and Industry’s (SACCI’s) seasonally adjusted Trade Activity Index (TAI) for September remaining in negative territory at 48 points.

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