Sep 02, 2019 / 09:00AM GMT
Operator
Good day, ladies and gentlemen, and welcome to the RCL Foods Annual Results Presentation. (Operator Instructions) Please also note that this call is being recorded.
I would now like to turn the conference over to Sir Miles Dally. Please go ahead, sir.
Miles Dally - RCL Foods Limited - CEO, MD & Executive Director
Good morning, everyone, and welcome to the RCL Foods results presentation for the year ended June 2019.
South Africa continues to be plagued by subdued economic growth, rising unemployment rates and declining real consumer income. And in particular, RCL Foods has been significantly impacted by the headwinds experienced industry-wide in Chicken and Sugar, and we'll unpack this during the course of today's presentation. But at the highest level, the sugar industry is in process, and the Health Promotion Levy has driven a permanent reduction in local demand. And as you saw, we took an impairment of ZAR 762-odd million in that regard. The chicken industry is also in distress with unabated imports as we've experienced for many years
Full Year 2019 RCL Foods Ltd Earnings Call Transcript
Mar 29, 2024
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