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AVI stock surges on trading update

1 Feb 2012

AVI's (AVI) share price surged in mid-morning trade on Tuesday, 31 January, after the consumer goods group updated its interim earnings forecast.

AVI, which owns brands such as Five Roses, Frisco and Spitz, said it expected headline earnings per share for total operations in the six months to December 2011 to increase by 30% to 194.4 cents, from 149.9 cents a year ago.

Headline earnings per share for continuing operations are expected to rise by 31.5% to 194.4 cents, from 147.8 cents in the previous corresponding period.

At 11:47, the stock was up R1.40 or 3.50% to R41.40, off its intraday best level of R41.57.

The interim results are expected on 12 March.

Source: I-Net Bridge

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