MBABANE - Premier Group, one of Southern Africa’s leading food manufacturers with a significant presence in Eswatini, delivered a strong financial performance for the year ended March 31, 2026.
The group posted robust growth in revenue, profitability and cash generation despite challenging economic conditions across its markets.
Premier Group has delivered another year of strong financial growth, with net profit rising by 29 per cent to R1.6 billion, reflecting what management described as the benefits of operational efficiencies, disciplined cost management and strategic investments made over recent years.
The group’s revenue year-on-year increased by 7 per cent to R21.2 billion and earnings surging as the food manufacturing giant strengthened its regional footprint through the acquisition of RFG Holdings and continued investing in operations across Southern Africa, including Eswatini.
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Eswatini footprint expandsthrough RFG deal
MBABANE - A major highlight of the year was Premier’s acquisition of Rhodes Food Group (RFG) Holdings in a transaction valued at approximately R6.5 billion.
The transaction, implemented on March 30, 2026, significantly broadens Premier’s product portfolio and manufacturing footprint.
Here in Eswatini, RFG was popularly known as Swazi Can before rebranding to RFG.
Through the acquisition, Premier added a new Culinary division that includes canned fruit, juices, baby foods, ready meals, meat products, dairy products, spices and various food products.
Importantly for Eswatini, the Culinary division includes a manufacturing facility and a farm located in the kingdom, adding to Premier’s existing baking and manufacturing operations already serving the local market.
The acquisition further cements Eswatini’s role within Premier’s regional production network and could create opportunities for additional investment and value-chain development in the future.
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Bread, milling businesses drive growth
MBABANE - Premier’s MillBake division, which accounts for 81 per cent of group revenue, remained the primary driver of performance.
The division delivered mid-single-digit revenue growth despite difficult economic conditions facing consumers.
Operational improvements helped boost profitability significantly, while volume growth in key categories supported revenue expansion.
The company also benefitted from declining maize prices, which fell by approximately 31 per cent during the reporting period.
Management said price reductions were largely passed on to consumers, helping ease household food costs.
Premier strengthened its market leadership position during the year, increasing its bread market share to 31 per cent while maintaining strong positions in wheat flour and maize meal.
The division houses some of Southern Africa’s best-known baking brands, including Blue Ribbon, Mister Bread and SUB, products that have become household names in Eswatini.
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Premier Group, one of Southern Africa’s leading food manufacturers with a significant presence in Eswatini, delivered a strong financial performance for the year ended March 31, 2026.