Libstar: Food counter’s potential stays intact
Mushroom sales via Denny exceeded expectations and the in-home snacking boom aided Libstar’s range of nuts as well as its Pringles manufacturing arm
Mid-cap food counter Libstar has been an IM favourite for some time. Its market prospects appear sound and management is trying hard to rebuild trust following its disastrous May 2018 listing and subsequent profit warning, which saw the stock halve from its initial 1,250c listing price.
Management has continued to refine the business model and extend relationships with key clients allied to a rapid rollout of new products under well-known brands such as Lancewood and Denny.