AVI weathers rising input costs
bdlive.co.za - Sep 10th 2014, 13:58
Branded consumer products group AVI’s headline earnings per share (HEPS) from continuing operations for the year ended June 30 lifted 12.2% to 384c, the company reported on Monday.
This came off turnover from continuing operations of R10.27bn, which was an increase of 11.4%.
The company called its performance "sound", notwithstanding pressure on consumers and rising input costs.
The company was able to increase its total dividend by 15% to 300c per share, with the final dividend recorded at 180c.
AVI’s brands in the beverages category include Five Roses, Freshpak, House of Coffees, Frisco, Koffiehuis, and Ellis Brown.
It invested R532m in capacity and efficiency.
"We expect the current constrained consumer demand environment to persist and possibly worsen, given rising interest rates and a pull-back in unsecured lending. The pressure on profit margins from the weaker rand will be ameliorated by selling price increases taken across the group during the fourth quarter of the last financial year, however, any further rand weakness will increase margin pressure," the company said.
From DFM Publishers (Pty) Ltd
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