News Formal

Denny mushrooms owner Libstar holds on to cash as earnings drop

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Nigeria News News

Company is unsure if high spending by consumers in the six months to end-June will continue

Libstar CEO Andries van Rensburg. Picture: SUPPLIED

But the top-line was eaten up by R44m in Covid-19 related costs such as transport and protective equipment, pushing its headline earnings — the primary measure of profit that strips out certain one-off items — 9.1% lower to R101.3m At end-June it had R956.7m in cash, up from R610.3m the same time a year ago. It is also cutting back slightly on capital expenditure.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MARKET WRAP: Rand weakens as ECB comments halt recent euro rallyThe JSE closed slightly weaker on the day, with banks faring worst, while food producer Libstar lost ground on disappointing interim results
Source: BDliveSA - 🏆 12. / 63 Read more »