Clover shares up

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Independent Newspapers

Clover chief executive Johann Vorster. Photo: Simphiwe Mbokazi.

Johannesburg - Shares in Clover rise more than 2 percent on Tuesday after the South African dairy and beverages maker says it expects headline earnings per share for the six months to end-December 2013 to be at least 20 percent higher than the same period last year.

Clover says this is due to “the non-recurrence of significant marketing investment in new product launches which occurred during the corresponding reporting period of the previous year and the higher selling prices achieved during the current reporting period.”

Clover's share price is up 1.76 percent at 17.32 rand. - Reuters

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