“Who?” you ask. Why none other than our old friend Rainbow Chicken, now trading under a snappy new acronym with the inclusion of Foodcorp in the coop. With that inclusion, revenue for the six months to December increased by a whacking 95.1% to R8.8bn, with revenue for Foodcorp itself growing 5.9% to R3.9billion. Other moves to diversification, you may recall, were the acquisition of TSB Sugar RSA and TSB Sugar International (TSB) from TSB Sugar Holdings, and a joint venture in Zambia with Zambeef. But, like many a food-industry businesses this year, particularly those in the poultry sector, Rainbow Chicken’s own results, according to the business itself, were not all that, and the earnings per share were down 72%.
Comment: Still, the diversification will no doubt prove a good move for the long term sustainability of the business.