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Libstar total revenue up 12.5% on Lancewood products

The company also reduced its debt to R1.2 billion.

Food specialist Libstar’s results for the 12 months ended December 2018 has put the company in good stead. Revenue rose 12.5% to R9.9 billion, with organic revenue up 5.1%, bolstered by the launch of Lancewood branded dairy products. The company also declared a maiden interim dividend of 22c a share. Despite these results, Robin Smith, the CFO, at Libstar explains that the company has a R42 million impairment in its smaller dairy businesses. 

Read more: Food group Libstar shares surge, dividend eclipses earnings drop

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