Johannesburg – Tiger Brands delivered a strong full-year performance for the year ended 30 September 2025, marked by solid growth and continued cash generation.
Tiger Brands said on Wednesday, 26 November 2025, that its performance demonstrates disciplined operational excellence while driving affordability for consumers who remain under pressure and value-seeking.
Continuous improvement efforts and strategic pricing initiatives during the year contributed to increased affordability of the company’s products with overall price deflation of 0.8% and volume growth of 3.5%.
In addition, Tiger Brands refreshed its corporate brand to reflect the bold steps it is taking to make affordable, quality foods and essentials available to more consumers across Southern Africa, while creating positive and sustainable outcomes across its value chain.
The company improved overall revenue by 2.7% to R34.4 billion and increased gross margin from 29.1% to 31.3% against prior year on a comparable basis through continuous improvement initiatives, including value engineering, logistics optimisation, and factory efficiencies.
“Despite food and non-alcoholic beverages inflation moderating to 4.5% in September, household budgets remain strained as the increase in other essential costs impacts disposable income, and consumers have to make trade-offs,” said Tjaart Kruger, CEO of Tiger Brands.
“Our strategy is focused on providing value for consumers.”
Kruger added: “This means we’re constantly working to make quality products affordable through cost leadership and portfolio optimisation initiatives, and more available through superior channel presence, while powering real growth with investments to rejuvenate our brands and execute growth platforms that will deliver consumer-relevant products into the future”.
Volume growth was ahead of short to medium-term guidance, driven by volume growth across the Milling and Baking, Grains and Culinary business units.
Revenue growth for Milling and Baking increased by 5.3% to R8.6 billion, with volume growth of 7.9%.
Operating profit increased by 26.8% to R761 million. Bakeries experienced volume growth for the first time since the implementation of the refreshed strategy, with double-digit growth achieved in the second half of the year.
Grains revenue performance of R7.1 billion was driven by 6% volume growth, offset by price deflation of 5%, with operating profit improving 236% to R736 million owing to continued efforts to drive affordability.
Culinary revenue increased by 3.1% to R10.2 billion, driven by 3.2% volume growth as a result of strategic initiatives in the condiments category and improved service levels during the second half of the year.
