RCL Foods 2022 Financial Results, recently released, show a pleasing set of results spelling great news for the Rainbow chicken business.
Results show a resilience in a challenging operating environment. Despite the prior year having an additional trading week, revenue increased by 10.2% to R34,9 billion (2021: R31,7 billion) and EBITDA improved by 7.7% to R2 595,7 million, driven by continued momentum in Sugar, a return to profitability in the Chicken business and a solid performance in Vector Logistics. Volumes have remained relatively stable across most categories, with several grocery brands growing their market share.
A strong focus on both strategic and operational execution has assisted the Group to maintain its forward momentum, despite the impact of continued commodity input cost increases, the economic and social fallout of the COVID-19 lockdowns, the unrest in KwaZulu-Natal and Gauteng in July 2021 and the floods in KwaZulu-Natal and parts of the Eastern Cape in April 2022.
Against this backdrop, the Chicken business has done well to return to profitability as it works to lay the foundation for a sustainable future.
Read the RCL Foods Financial Results >