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Rainbow cooks up tasty return for shareholders

KwaZulu-Natal Correspondent DURBAN Rainbow Chicken proved its mettle in returning as a worthy investment share after its darker days several years ago, rewarding shareholders with fully diluted headline earnings of 99,2c (2002: 56,8c) that were more in line with analyst expectations for next year. However, the industrial broiler company tempered its good news with the

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Rainbow results for 12 months ended 31 Mar 03

Revenue increased 23.8% to R3 763.7m (R3 040.2m), operating profit was 56.9% higher at R246m (R156.8m), and attributable profit was up 64.8% to R253.6m (R153.9m). HEPS improved 76.1% to 106.2cps (60.3cps). The significant increase in revenue is predominantly attributable to the recovery of higher feed raw material input costs in sales prices. The benefits of

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