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AVI FY HEPS seen 9% to 10% higher at between 418c and 422c

21 Jul 2015

AVI's headline earnings per share (HEPS) are expected to increase by between 9% and 10% to between 418c and 422c in the year ended June 30 2015 from the previous year's 383.6c, the consumer products company said in a voluntary trading update on Tuesday.

AVI FY HEPS seen 9% to 10% higher at between 418c and 422c

Overall sales performance for the year was "sound in a tough trading environment" with the group realising higher selling prices in all categories following significant accumulated cost pressure from the weaker rand, the company said.

I&J's export revenue benefited from rand weakness, while Indigo's total revenue declined following the revision of trading terms with Coty and the consequent exclusion of Coty product sales revenue from group revenue, AVI said.

Entyce and Snackworks delivered "moderate gains" in gross profit margins, while Spitz maintained strong gross profit margins. Green Cross made progress in the second semester with better margins.

AVI is expected to release its results on or about 7 September 2015.

Source: BDpro

Source: I-Net Bridge

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