Salada Foods Reports 69% Increase in Profits

Salada Foods earned net profit amounting to $219.17Mn (EPS: $2.12) at the end of its financial year in September 2018, which represents a 69% increase over the $68.6Mn (EPS: $0.67) earned over the same period last year. This was driven by an increase in sales which saw a $169.7Mn growth over the $871.7Mn generated in 2017, to close 2018 at  $1.04Bn. Salada stock price closed at $25.50 at the end of trading Wednesday, and has grown by 120% for the year thus far. The stock currently trades at a P/E of 10X  which is below the main market manufacturing average of 16X earnings.

(Source: JSE)