Johannesburg - Shares in food producer Rhodes Food Group (RFG) surged 6.2 percent to R27.49 by 9.09am after it said yesterday that it expected earnings for the year to September to rise by up to 72 percent.
The shares closed at R25.98 - 0.35 percent higher on the day.
Earnings per share were forecast to be between 128.8c and 132.6c higher compared with 77.1c for the previous similar period.
Headlines earnings per share would be between 129.3c and 133.1c, from 77.4c.
Last month, the group acquired a 100-percent stake at Pakco for R200 million, making it the seventh acquisition since it listed on the JSE in 2014.
The group is expected to announce its annual results on November 21.
BUSINESS REPORT