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RCL Foods reports double-digit growth in its half-year earnings By Sandile Mchunu Share RCL Foods has shook off the negative impacts of Covid-19 on its half-year results by reporting a double-digit growth in earnings for the six months to end December, boosted by its diverse portfolio. The group said that its revenue increased 10.5 percent to R15.7 billion for the six months to end December driven by higher volumes and improved prices in sugar and baking, improved milling volumes and the take-on of new principals in Vector Logistics following its acquisition of Imperial Logistics cold-chain b...

By Reuters Staff 2 Min Read JOHANNESBURG (Reuters) - South African food producer RCL Foods on Monday reported a 12% increase in half-year profit, boosted by the performances of its sugar, baking and logistics segments. RCL, which owns Selati sugar, Ouma rusks and Rainbow Chickens brands, reported headline earnings per share of 59.7 cents for the six months ended Dec. 31 from 53.3 cents last year. Revenue during the reported period rose 10.5% to 15.7 billion rand ($1.05 billion), driven by higher volumes and improved pricing in its sugar and baking products, upbeat milling volumes and strong p...