AVI pays dividend and considers acquisitions amid Covid-19 snack bump
Covid-19 hit to apparel sales and fishing activity offsets higher selling prices and appetite for biscuits and tea
07 September 2020 - 08:13
UPDATED 07 September 2020 - 18:05
Consumer goods group AVI — the owner of footwear retailer Spitz stores, Five Roses tea, and seafood company I & J — is proceeding with a R820m final dividend payment and considering acquisitions in the wake of a Covid-19 bump for tea and snacks.
Covid-19 hit apparel sales and fishing activity during the group’s year to end-June, but higher selling prices and the pandemic boosted biscuits and tea, with strong demand continuing into July and August, said CEO Simon Crutchley...
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