September 4, 2019 / 5:38 AM / 11 days ago

Solid core businesses boost South Africa's Libstar H1 earnings

JOHANNESBURG, Sept 4 (Reuters) - South African food producer Libstar Holdings Ltd said on Wednesday its normalised earnings rose 12.4% in the first half, helped by a strong performance in its core businesses.

The core businesses, which contribute 88% of the group’s revenue, include perishables, ambient groceries, snacks and confectionery and baking aids.

The producer of Denny mushrooms said its normalised headline earnings per share (HEPS) from continuing operations rose to 30.9 cents, in the six months ended June 30, from 27.5 cents in the year-ago period.

HEPS is the main profit gauge in South Africa and strips out certain one-off items.

Normalised earnings before interest, tax, depreciation and amortization (EBITDA) climbed 5.9% to 425 million rand ($27.89 million).

$1 = 15.2369 rand Reporting by Nqobile Dludla, Editing by Sherry Jacob-Phillips

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