Libstar declares its maiden dividend of 22c
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Food producer Libstar Holdings has reported a 16% percent fall in full-year normalised earnings - hit by a writedown on its niche beverages business. Libstar Holdings CFO Robin Smith joins us in studio now with more of the detail behind its performance - which despite getting a mere "satisfactory" rating - has seen the group declare a maiden cash dividend of 22c a share. The payout comes despite what Libstar calls the toughest year its experienced since its inception 14 years ago.
The group, along with other players in the retail sector, is contending with low levels of consumer demand.
And it's thanks to acquisitions that it managed to lift revenue 12.5% during the period. Libstar expects the local economy to remain sluggish and says this is going to translate into a difficult first half for the company.
The group, along with other players in the retail sector, is contending with low levels of consumer demand.
And it's thanks to acquisitions that it managed to lift revenue 12.5% during the period. Libstar expects the local economy to remain sluggish and says this is going to translate into a difficult first half for the company.
