CHRIS GILMOUR: Load-shedding and a poor result from I&J hit AVI hard
Basic foodstuffs businesses, Entyce and Snackworks, help lift group revenue 7.2%
15 March 2023 - 05:00
AVI has joined the many other good SA enterprises that have been hobbled by the effect of rotational power cuts or “load-shedding”.
For the six months to end-December 2022, this well-managed company experienced the double whammy of vastly increased load-shedding coupled with the downturn in demand from its traditional big customer, China, for its abalone products, thanks to an extended zero-Covid policy in China. ..
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