RFG Holdings said yesterday its revenue increased by 1.4% in the 11 months ended August 2024, after its international volumes in particular were affected by lower pricing and port delays.
The group said in a trading update its regional segment delivered resilient revenue growth in an environment of sustained pressure on consumer disposable income due to high electricity, food and living costs together with high interest rates.
Revenue in the international segment was impacted by softer global pricing and demand for canned deciduous fruit, and lower volumes due to shipping delays at the Cape Town and Durban ports.
Group revenue growth was driven by selling price inflation of 5.4% as higher input costs continued to be recovered.
Despite the pressure on volumes, management focused on driving profitable growth, recovering costs, generating operational efficiencies from recent capital expenditure and applying tight cost management to maintain the 10% medium-term operating profit margin target.
