Power cuts cost us R76m, says Tiger Brands
Tiger Brands says over the past year company costs to deal with load shedding have gone up six times.
The country's largest food manufacturer posted its performance figures from October 2022 until March this year.
They show an increase in total revenue of 16 percent.
The group says that was driven by inflation of 17 percent and consumers responded to paying that much more at the till, with a full one percent drop in the volume of products bought.
Tiger Brands says another concern is the R76 million it's had to fork out on generating its own power over that period.
Chief Manufacturing Officer, Derek McKernan, says they're going to invest R120 million on power generation.
This includes expanding their solar power capacity.
He says a third of the power at four big plants already is from non-Eskom sources.
"This was done with our personal agreements with third-party independent power producers. The company also has plans to expand this rollout over the next 18 months to all the plants in the group to ensure that solar power is part of the third energy mix for all our plants."
