Finweek English Edition - - INVESTMENT -

Stock­bro­ker­age Barnard Ja­cobs Mel­let (BJM) are neg­a­tive on the food group, fol­low­ing the re­lease of f inan­cial re­sults for the year ended 30 Septem­ber 2012. Ad­justed head­line earn­ings per share were up 5% to 426 cents while rev­enue rose 10% to R18.6bn. BJM told clients: “Rel­a­tive to its prospects Pioneer Foods is con­sid­ered de­mand­ing on a for­ward PE of 14 and a for­ward div­i­dend yield of 3%.”

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