March 18, 2020 / 6:46 AM / in 19 days

South Africa’s Libstar posts 10.9% rise in FY profit

JOHANNESBURG, March 18 (Reuters) - South African food producer Libstar Holdings Ltd on Wednesday reported a 10.9% jump in full-year normalised earnings and said the coronavirus outbreak poses a risk to its export sales and imported shipments of grocery items.

The producer of Lancewood dairy products said normalised headline earnings per share (NHEPS) for the year ended Dec. 31 rose to 82.7 cents on an IFRS 16 accounting basis, from 74.6 cents a year earlier. On non-IFRS 16 basis NHEPS rose 14.1%.

HEPS is the main profit measure in South Africa and excludes certain one-off items.

The food producer said it has not yet felt the impact of the virus that has killed more than 7,000 people globally.

Revenue rose 2.4%, boosted by its food business, which includes grocery and perishables division. (Reporting by Nqobile Dludla; Editing by Aditya Soni)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below