Tiger Brands says Langeberg Foods will resume operations at the Ashton fruit canning factory on October 1, marking the end of a five-year struggle to secure the future of the country’s largest deciduous fruit processor.
The deal saves more than 3,000 permanent and seasonal jobs and ensures stability for a key export industry. The factory, previously owned by Tiger Brands, has been taken over by a consortium led by the Ashton Fruit Producers Agricultural Co-operative, supported by Norwegian development finance institution Norfund.
Vukile Property Fund says it’s on track to deliver at least 8% growth in funds from operations (FFO) and dividends per share for the full year, driven by a combination of strategic offshore expansion and resilient local retail performance.
Occupancy across the portfolio stands at 99%, with positive rental reversions and growth in footfall in both Spain and Portugal. Offshore assets now account for 65% of the group’s portfolio and 60% of net property income.
Vukile said like-for-like net operating income in the South Africa portfolio rose 8% year on year, and vacancies stayed below 2%.
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