Earnings drop is expected

LIBSTAR Holdings, which listed on the JSE in May, expects its earnings per share and headline earnings per share from continuing operations to decline by between 44 and 56 percent, to between 11 cents a share and 14c for the six months to end June. Libstar is a leading producer and supplier of high-quality products in the consumer packaged goods industry and markets a range of products in South Africa and globally. Libstar said on Friday that gross profit margins were negatively impacted by a national oversupply of fresh mushrooms. – Sandile Mchunu