AVI’s full-year HEPS rise in line with guidance
By Andries Mahlangu - Sep 11th 2017, 11:17
Food producer AVI has reported a 9.4% rise in full-year headline earnings per share (HEPS) to R5.08, which was in line with its recent guidance.
Revenue rose 8.2% to R13.18bn in the year to end-June, after it increased selling prices to counter the effect of a weaker rand, the company said in a statement on Monday
AVI operates in the fast moving consumer goods market‚ competing with established players such as Pioneer Foods and Tiger Brands. But the company is also exposed to the competitive retail sector through Spitz and other brands.
Through I&J‚ AVI operates a fishing business‚ which pits it against the likes of Sea Harvest and Premier Fishing‚ both of which listed earlier in 2017.
Most of its underlying businesses, including Entyce Beverages and Snackworks, contributed to headline earnings, which grew to R1.65bn from R1.49bn.
The other divisions are personal care, and footwear and apparel.
The consumer goods group said the trading environment was likely to be as challenging in the new financial year, with little chance of a meaningful improvement in consumer spending.
A final dividend of R2.43 per share was declared, taking the total to R4.05, which was up 9.5% on the year-earlier period.
AVI shares have grown 7% to R97.54 on the JSE so in 2017, valuing the company at R34.2bn.© BusinessLIVE MMXVII
South Africa is emerging as a new hub for Retail Forex Trading
13/11/2019 - 10:16
South Africa's financial market is said to be the most developed & organized in Africa led by big Banks like Standard Bank, ABSA, FNB, FirstRand, Nedbank & local Stock Exchange (JSE) which is the largest stock market in Africa with daily trading volume of R23.7 Billion.
How a US-China trade deal could benefit SA
11/11/2019 - 09:53
Africa is poised to become the “land of opportunity” for bond and equity investors should the US and China strike a trade deal, Bank of America (BofA) says.
Shoprite shares in dramatic U-turn after update
05/11/2019 - 09:04
Shoprite’s share price jumped by 6% in opening trading on Monday after the group reported turnover growth of more than 7% in the three months to September. But by later afternoon, its share price was down almost a percent.
Global wine output falls this year after bumper 2018
01/11/2019 - 11:17
Global wine production fell about 10% this year, with major producers France, Italy, and Spain hit the most by unfavourable weather conditions, according to a leading international body.
Local retailers are outperforming a bad economy
31/10/2019 - 08:49
South African retailers have been battered by poor trading conditions, rising job losses and weak economic growth, which has made it difficult for companies to pass on costs to their customers.