Food producer AVI’s full-year profit rises 4% amid rising costs
While the company increased prices to counteract a weaker rand and raw materials, the move came at a cost to volumes
04 September 2023 - 09:29
Food producer AVI reported modest growth in profits in the year ended June after battling cost pressures, compounded by the effects of load-shedding.
While AVI increased selling prices across most product categories to head off the effect of a weaker rand and increased prices of raw materials, the move came at a cost to volumes in certain instances because embattled consumers could not absorb it. ..
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