AltX-listed agribusiness Ububele Holdings will push ahead with bold plans to scoop a huge dollop of the local ice cream market, not withstanding a meltdown in investor sentiment after a disappointing trading update last week.
Ububele CEO Bertie Cloete told the Vunani Securities small to mid-cap conference that Ububele was determined to become a national ice cream supplier and would look to complement its Gauteng-based facilities by buying out additional production plants in Cape Town and Durban.
Cloete reckoned Ububele would become the third-biggest ice cream supplier in SA behind dairy giant Nestle and Ola. “We will double our ice cream capacity this year. Dairy will do R550m in revenue for Ububele in two years’ time.”