Pioneer Foods achieves credible interim performance

JSE-listed Pioneer Foods achieved a credible performance for the six months ended March 31, with total sales volumes up 4% year-on-year and revenue up 3% year-on-year to R9.9-billion. Mainly as a result of volume growth and the normalisation of the maize procurement position, the company’s gross profit increased by 12% to R2.9-billion, while its gross profit margin improved too 29.6% from 25.7%.