AVI says earnings fell in the year to end-June

A Spitz shoe shop in Sandton City, Johannesburg. Picture: BUSINESS DAY/ARNOLD PRONTO

SA’s economic malaise is taking its toll on fast-moving consumer goods producers and major retailers, which have struggled to grow volumes or pass higher costs on to cash-strapped consumers. The group said full-year consolidated headline earnings per share probably fell by between 4% and 6%. Selling prices were raised in categories affected by specific cost pressures, but were generally “maintained” throughout the year.

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AVI says earnings fell in the year to end-JuneThe consumer goods group, which wrote down the value of shoe business Green Cross, says SA’s economic malaise is taking its toll
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