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AVI’s fashion arm aids its overall revenue growth
In the financially troubled times like this, factors such as escalating prices, constricted consumer market and rigorous competition have resulted in not-so conducive situation for AVI to stay at par with its margins. AVI is not the only brand affected by the unfavourable growth context. Its peers like Pioneer Foods and Tiger Brands are also facing same challenges. AVI, which handles popular brands like Five Roses, Bakers and Willard, yielded an EPS of around 210c, for the period of six months in the latter part of last year. This aggregated to an increase of around 8 percent for AVI.
Fashion Brands emerge as star performers for AVI
The Spitz products were in great demand among the potential consumer market and provided for better performance of AVI. Carvela, Kurt Geiger and Lacoste were the popular fashion brands from Spitz whose stocks posted eye-catching results. Fashion business grew around 24.7 percent and emerged with a profit margin of 24.4 percent.
Overall revenue gain for AVI augments by more than 10 percent
Over the time period of six months for latter half of last year, the overall revenue gain for AVI recorded a growth of 10.8 percent to 4.89 billion. The operating profit augmented by nearly 8 percent and was recorded around 931 million. Hence, with profit growth over 24 percent, the fashion arm of AVI outperformed it’s every other venture during the concerned period of six months. On the other hand, personal care segment of AVI recorded a less than expected growth of just 5.8 percent. I&J segment was the cause of concern for AVI with its revenue falling by 4 percent.