for the year ended 30 September 2025
| Non-distributable reserves | |||||||
| (R'million) | Share capital and premium |
Share of net earnings of associates |
Cash flow hedge reserve |
FVOCI financial assets |
Foreign currency translation reserve |
||
| Balance at 1 October 2023 restated# | 18 | 3 021 | (1) | 53 | (45) | ||
| Profit for the year | – | – | – | – | – | ||
| Other comprehensive (loss)/income for the year | – | – | 1 | (11) | (265) | ||
| Total comprehensive (loss)/income | – | – | 1 | (11) | (265) | ||
| Transfers between reserves | – | 481 | – | – | – | ||
| – Current year earnings | – | 481 | – | – | – | ||
| Share-based payment1 | – | – | – | – | – | ||
| Dividends on ordinary shares (note 7.1) | – | – | – | – | – | ||
| Total dividends | – | – | – | – | – | ||
| Less: Dividends on empowerment shares | – | – | – | – | – | ||
| Sale of empowerment shares2 | – | – | – | – | – | ||
| Share buy-back transaction3 | – | – | – | – | – | ||
| Balance at 30 September 2024 | 18 | 3 502 | – | 42 | (310) | ||
|---|---|---|---|---|---|---|---|
| Profit for the year | – | – | – | – | – | ||
| Other comprehensive (loss)/income for the year | – | – | – | (79) | 167 | ||
| Total comprehensive (loss)/income | – | – | – | (79) | 167 | ||
| Release of FCTR on disposal of associate | – | – | – | – | (187) | ||
| Transfers between reserves | – | (2 774) | – | – | – | ||
| – Current year earnings | – | 343 | – | – | – | ||
| – Realised on disposal and divestment | – | (3 117) | – | – | – | ||
| Share-based payment1 | – | – | – | – | – | ||
| Dividends on ordinary shares (note 7.1) | – | – | – | – | – | ||
| Total dividends | – | – | – | – | – | ||
| Less: Dividends on empowerment shares | – | – | – | – | – | ||
| Sale of empowerment shares2 | – | – | – | – | – | ||
| Repurchase of Tiger Brands shares (note 7.2) | (1) | – | – | – | – | ||
| Balance at 30 September 2025 | 17 | 728 | – | (37) | (330) | ||
| Notes | 7.2 | 5.2 | |||||
| # | The prior year opening balances on other capital reserves, FVOCI financial assets, foreign currency translation reserve and share-based payments reserve were adjusted by R4 million (increase), R8 million (decrease), R75 million (increase) and R8 million (decrease), respectively. This resulted in a net debit to accumulated profits of R64 million. A further adjustment of R166 million (increase) to opening accumulated profit arose from the prior period restatement detailed in note 12. Refer to note 12 for details on prior period restatements |
| 1 | Included in the movement of the share-based payment are options exercised amounting to R91 million (2024: R90 million) |
| 2 | Relates to the exercising of options vested post the December 2014 lock-in period in terms of the Black Managers Participation Right Scheme (BMT). In the current year, R127 million (2024: R11 million) related to BMT I |
| 3 | During the prior year ended 30 September 2024, the group embarked on a share repurchase programme through Tiger Consumer Brands Limited, in which 1 104 486 of the listed Tiger Brands shares were repurchased at an average price of R195.08 per share. These shares were held as treasury shares (refer to note 7.2.3) |
| (R'million) | Accumulated profits |
Shares held by subsidiary and empowerment entities |
Share-based payment reserve |
Total attributable to owners of the parent |
Non- controlling interests |
Total equity |
|
| Balance at 1 October 2023 restated# | 15 968 | (2 191) | 518 | 17 341 | 201 | 17 542 | |
| Profit for the year | 2 983 | – | – | 2 983 | 29 | 3 012 | |
| Other comprehensive (loss)/income for the year | (9) | – | – | (284) | (10) | (294) | |
| Total comprehensive income | 2 974 | – | – | 2 699 | 19 | 2 718 | |
| Transfers between reserves | (495) | – | 14 | – | – | – | |
| – Current year earnings | (495) | – | 14 | – | – | – | |
| Share-based payment1 | – | – | (27) | (27) | – | (27) | |
| Dividends on ordinary shares (note 7.1) | (1 598) | – | – | (1 598) | (3) | (1 601) | |
| Total dividends | (1 776) | – | – | (1 776) | (3) | (1 779) | |
| Less: Dividends on empowerment shares | 178 | – | – | 178 | – | 178 | |
| Sale of empowerment shares2 | – | 11 | – | 11 | – | 11 | |
| Share buy-back transaction3 | – | (216) | – | (216) | – | (216) | |
| Balance at 30 September 2024 | 16 849 | (2 396) | 505 | 18 210 | 217 | 18 427 | |
|---|---|---|---|---|---|---|---|
| Profit for the year | 3 817 | – | – | 3 817 | 34 | 3 851 | |
| Other comprehensive loss for the year | (10) | – | – | 78 | 6 | 84 | |
| Total comprehensive income/(loss) | 3 807 | – | – | 3 895 | 40 | 3 935 | |
| Release of FCTR on disposal of associate | – | – | – | (187) | – | (187) | |
| Transfers between reserves | 2 742 | – | 32 | – | – | – | |
| – Current year earnings | (375) | – | 32 | – | – | – | |
| – Realised on disposal and divestment | 3 117 | – | – | – | – | – | |
| Share-based payment1 | – | – | 8 | 8 | – | 8 | |
| Dividends on ordinary shares (note 7.1) | (3 546) | – | – | (3 546) | (2) | (3 548) | |
| Total dividends | (3 858) | – | – | (3 858) | (2) | (3 860) | |
| Less: Dividends on empowerment shares | 312 | – | – | 312 | – | 312 | |
| Sale of empowerment shares2 | – | 127 | – | 127 | – | 127 | |
| Repurchase of Tiger Brands shares (note 7.2) | (1 522) | – | – | (1 523) | – | (1 523) | |
| Balance at 30 September 2025 | 18 330 | (2 269) | 545 | 16 984 | 255 | 17 239 | |
| Notes | 7.4 | 9.2 |