High perishables, groceries sales drive Libstar’s half year revenue growth by 8.7%

SOUTH AFRICA – Libstar, one of South Africa’s leading Consumer Packaged Goods (CPG) manufacturers and distributors has reported an 8.7% rise in half year revenue to R5.1 billion (US$360m), boosted by growth from the food categories, which represent 93% of group revenue. The food category, comprising of perishables, groceries, snacks & confectionery and baking products, registered a revenue growth of 10.5%, benefiting from the much-improved food service channel demand and a resilient performance in the retail channel. The producer of Lancewood dairy brand and Finlar meat products, highlighted that revenue…

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South Africa’s Libstar banks on innovation to drive growth during pandemic period, launches new products

SOUTH AFRICA – Libstar, one of South Africa’s leading Consumer Packaged Goods (CPG) manufacturers and distributors, has launched two No Added Sugar yoghurt flavours, in a bid to meet consumers demand of healthy and nutritious products, triggered by the COVID-19 pandemic. The new variants are Double Cream No Sugar Added Strawberries & Cream and Low Fat No Sugar Added Blackberry & Cherry, launched under the group’s dairy subsidiary, Lancewood. This follows the company’s debut of ‘Piece o’ Cake cheesecake mix,’ an all-in-one product coming already mixed and prepared in a…

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South African cheese maker Lancewood expands offering with launch of instant baked cheesecake mix

SOUTH AFRICA – Baking a cheesecake is a task that’s traditionally been intimidating for many, but Lancewood a South African celebrated dairy brand has made it so easy that everyone, including the kids, can whip up a delicious baked cheesecake with minimal effort required. The dairy producer has launched the delectable new ‘Piece o’ Cake cheesecake mix “, an all-in-one product coming already mixed and prepared in a convenient tub. According to the company, one only needs to simply follow the easy on-pack baking instructions and you’re good to go.…

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Libstar gets profit boost from improved margins and JSE listing

SOUTH AFRICA – Consumer goods group Libstar says it expects double-digit profit in its year to end-December as it benefits from improved margins and a reduction in debt after it listed in May 2018. The group, whose brands include Lancewood cheeses and Denny mushrooms, expects headline earnings per share to rise by 7.2%-12.2% compared to the prior period’s 74.6c. This includes the effects of accounting changes which bring leases on to the company’s balance sheet. Gross profit margins improved in each of the group’s product categories, it said Lower dry-condiment…

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Private equity firm Actis acquires stake in Denny Mushrooms owner Libstar

SOUTH AFRICA – Private equity firm Actis has acquired 37.02% stake in South Africa’s owner of the Denny Mushrooms brand Libstar Holdings held by Abraaj Private Equity Fund IV (APEF IV). Last month APEF IV, a global buyout fund which held the 37.02% stake in Libstar, and Abraaj Africa Fund III (AAF III), a fund for investment in sub-Saharan Africa, were acquired by Actis. Libstar is a portfolio investment of APEF Pacific Mauritius, which in turn is a portfolio investment of APEF IV and AAF III. The Dubai-based Abraaj filed…

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South Africa’s Libstar launches par-baking facility to expand convenience foods

SOUTH AFRICA – Libstar, one of the leading producer of consumer packaged goods (CPG) in South Africa has launched an additional par-baking facility at its bakery division, Amaro Foods, to expand production capacity. The company said that the new state-of-the-art facility in Epping, Cape Town, aligns it with global market trends where artisanal baking products are part of the daily food culture and further strengthens its competitiveness. Libstar said that the facility will also enable it to meet key client requirements as well as adapt to the changing consumer trends.     …

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South Africa’s Libstar banks on new food products as revenues surge

SOUTH AFRICA – Libstar, a South African consumer goods manufacturer and distributor, recorded a 12.5% increase in revenues US$684.34 million during its 2018 financial year which the company attributed to the increased innovation during the period. According to a report by Business Daily the Johannesburg Stock Exchange (JSE) listed company, whose brands include Lancewood cheese and Denny Mushrooms, launched 387 new food products in the year-to-end-December 2018. Libstar said that the strategy had cautioned the company against the slowdown in consumer spending resulting to profits after tax of US$16.31 million…

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New JSE entrant Libstar’s profit declines 13% impacted by lower mushroom prices

SOUTH AFRICA – The new JSE listed food and personal care company, Libstar has posted dismal results with 13.8% decrease in operating profit to US$14.55 million after recording impacts from lower price realisations from mushrooms. According to Business Day, the gross profit margin stood at 20.9% from 22.4% in 2017, as a result of lower margins in Sonnendal Dairies, a yoghurt maker it acquired in 2017 and six -week industrial strike action at Dickon Hall Foods. The effect of the industrial action on revenue amounted to approximately US$4.08 million leading…

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Libstar in profit warning on lower margins not long after JSE listing

SOUTH AFRICA – Libstar Holdings, South Africa’s leader in consumer packaged goods industry has said that its headline earnings per share from continuing operations for the half year ended June 30 may be half the 25c reported in the comparative period, Business Day Reports. The company said its financial results to be released September 4 could be poorer than anticipated prior to it joining the JSE as a result of oversupply of mushrooms and the impact from lower margins linked to its October merger with Sonnendal Dairies. Earnings per share…

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Libstar to launch new range of yoghurt to take on French group Danone

SOUTH AFRICA – South Africa’s consumer packaged food company, Libstar Holdings Ltd is set to launch new ranges of yoghurt and shakes by July in competition against France’s Danone and other local leaders in the dairy sector. This is also in strive to gain local market share dominated by Clover Industries, the branded foods and beverages group. As the consumers shift their tastes and preferences towards health and wellness, yoghurt makers are turning to marketing their food or shake as being ‘healthy and nutritious’, also able to be consumed on…

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