Libstar performs well despite supply chain disruption, cost inflation
Packaged goods manufacturer Libstar says it has experienced another period of supply chain disruptions, significant cost inflation and consumer pressures in the six months ended June 30, but still managed to grow its sales volumes by 6.9%.
The company explains that its sales and revenue were supported by increased volumes of hard cheese in the Lancewood business, in the Perishables category, and sauces, vinegars and other condiments in the Groceries category.
This while the company posted lower export volumes of value-added herbs and spices owing to ongoing shipping delays, also affecting the Groceries category.
Libstar’s group gross profit margins were largely in line with the first half of the prior year, despite significant raw material and energy cost inflation having been experienced this year.
The company expects its normalised earnings before interest, taxes, depreciation and amortisation (Ebitda) to range between R488-million and R498-million, compared with normalised Ebitda of R315-million for the six months ended June 30, 2021, marking an increase of about 9% to 11% year-on-year.
Normalised headline earnings per share (HEPS) will be between 34.8c and 36.4c in the six months under review, against normalised HEPS of 31.2c posted in the prior half-year, which amounts to a year-on-year increase of at least 11.5%.
Libstar will publish its interim results on or about September 13.
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