South Africa’s Libstar full-year earnings expected to rise

South African food producer Libstar Holdings Ltd on Tuesday flagged annual earnings up as much as 12%, boosted by improved profits in each of the group’s product categories.

Libstar, whose products include baking aids, snacks, confectionery and perishables, said normalised headline earnings per share (HEPS) including the impact of first-time adoption of IFRS 16 and IFRS 9 for the year ended Dec. 31, 2019 is expected to be between 79.9to 83.7cents per share, or 7% to 12% higher, compared with 74.6 cents in the year ago period.

HEPS is the main profit gauge in South Africa and strips out certain one-off items.

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