South Africa’s largest food producer, Tiger Brands, expects its annual headline earnings to rise by up to 15 percent, supported by improved margins, cost-cutting measures, and operational efficiencies that helped counter weaker consumer spending and softer commodity prices, Reuters reported.

The Johannesburg-listed company said on Monday that headline earnings per share (HEPS) from total operations are projected to increase between 10 and 15 percent, reaching between 19.91 rand and 20.82 rand, compared with 18.10 rand a year earlier. HEPS from continuing operations is anticipated to grow by 25 to 30 percent, according to its trading statement.

Tiger Brands’ shares gained nearly 3 percent by late morning trading at 11:45 GMT.

The company attributed its stronger performance to revenue growth across core categories and efficiency initiatives in pricing, factory output, and logistics. These improvements lifted operating margins from continuing operations to double digits. Volume growth was recorded across most units, with milling and baking, grains, and home care segments showing notable recovery in the second half of the year.

Tiger Brands also advanced its “portfolio optimisation” strategy through a series of divestments. The company completed the sale of Langeberg and Ashton Foods and signed a deal to sell its 74.69 percent stake in Cameroonian confectionery producer Chococam to Africa-focused investment firm Minkama Capital and BGFIBank Group. The transaction is expected to close in the second half of the 2026 fiscal year.