TRADING UPDATE
AVI expects stronger rand to lift earnings
Consumer brands group AVI expects a rise in half-year earnings lifted by a stronger rand. On Tuesday, the retailer said its consolidated headline earnings per share for the six months to December were expected to increase by as much as 327c per share, up 7%-8% from 302.9c in the period a year before. The group expects its consolidated earnings per share, including capital gains and losses, to increase 6%-7% to range at 324c-327c per share from 305.4c reported in the same period in 2016. AVI will release its half-year financial results in March. The group has a R38bn market capitalisation and its trading subsidiaries operate in manufacturing, processing, marketing and distribution of branded consumer products in the food, beverage and fashion categories. Its brands include Five Roses, House of Coffees, Bakers, I&J, Yardley, Lentheric, Spitz, Carvela and Kurt Geiger. In its trading update, the group reported revenue for the six months to December was expected to grow by 2.3% with the ...
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