AVI: Brands on the run, even at the JSE’s best food company
You know the economy is in the utter doldrums when a company filled with everyday favourites starts battling
By common consent in the investment industry, AVI is the best-run food company on the JSE. But this current grinding downturn has eventually affected this star performer, resulting in headline earnings per share declining by 5% in the year to June 2019.
“The overriding feature of these results is the impact of a low-demand economy”, said CEO Simon Crutchley.
AVI’s latest annual results were royally summed up by analyst Anthony Clark of Smalltalkdaily Research: “You know the economy is in the utter doldrums when the prince among domestic food stocks is reduced from its long-earned aristocratic status to a mere baronet. Until these results, an earnings decline was unthinkable for such a blue-blood.”..