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Operating profit from continuing operations up by 30% to R695 million.

AVI has acquired footwear manufacturer GREEN CROSS for R382.5m as it bolsters its premium branded footwear and apparel portfolio. An additional R35m will be payable subject to certain profit hurdles being achieved in GREEN CROSS' FY to end-Feb. 2013. The deal will be funded from existing cash resources, and is subject to the fulfilment of certain conditions, including regulatory approvals. ...

AVI today posted a 30% jump in diluted HEPS from continuing operations to 187cps for the HY to end-Dec., from 143.3cps y/y. Revenue from continuing operations rose by 8.6% to R4.49bn on the back of selling price increases, stronger export revenue in I&J and volume growth in Spitz, Indigo and Tea. Operating profit was 26.8% higher at R855m due to higher gross profit margins and a constrained i...

AVI yesterday said it expected HEPS for total operations to increase by 30% to 194.4c in the HY to end-Dec., up from 149.9c y/y. HEPS for continuing operations are expected to rise by 31.5% to 194.4c, up from 147.8c y/y. EPS for continuing operations were seen to be up 36% at 195.1c, from 143.5c y/y. AVI said EPS for total operations were anticipated to rise by 38.2% to 200.8c, compared with...

AVI's group revenue for the quarter to end-Sep. was 10.9% higher y/y, largely due to improved sales volumes in most of its key units. Price rises in the food and beverages categories, and the benefit of favourable exchange rates on I&J's export sales also helped. Chairperson ANGUS BAND told the group's AGM that the consolidated gross profit margin for the quarter was similar to that for the f...

AVI this morning reported a 31.1% rise in diluted HEPS from continuing operations to 239.7c for the year to end-Jun. from 182.9cps y/y. HEPS from continuing operations was up 31% to 248cps. Revenue from continuing operations grew 5.7% to R7.69bn, while operating profit from continuing operations grew by 25% to R1.1bn. Cash generated from operations rose 24% to R1.4bn. A final dividend of 75...