Half Year 2021 RFG Holdings Ltd Earnings Call Transcript
Good morning, everyone. Thanks for joining us for this presentation of our interim results. As usual, I'll kick off and then hand over to Tiaan for the financials.
Starting with an overall review of our first half. The first half results in our opinion represent a resilient performance in the COVID-19 environment. Operating profit was up by 14.9% and the adjusted operating profit margin was expanded from 5.5% to 7.6%.
Lockdown restrictions adversely impacted sales and profitability on fruit juice and pies, 2 of our largest product categories. The centralization of the pies and pastries business has been successfully completed. International volumes were significantly lower due to shipping and logistical challenges, particularly in the month of March. And we benefited from foreign exchange gains of ZAR 19.6 million in the half. And strong cash generation brought about reduced debt levels. Over to you, Tiaan.
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