Bakers owner AVI posts earnings jump amid constrained demand, port woes

Consumer goods group AVI posted a 17% jump in earnings for the six months to end December, despite constrained consumer demand and supply chain disruptions due to South Africa's port problems. 

The producer of Tennis biscuits and seller of Spitz shoes raised its revenue 7.1% to R8.4 billion in the period. Group operating profit increased by 17.1%, while headline earnings per share jumped  17.4%. AVI will pay an interim dividend of R2.02. 

AVI, valued at R30 billion on the JSE, says it will continue to protect the long-term value of its brands and that "optimising price and volume will continue to be a strong focus in all business units".