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Libstar Update

April 17, 2024
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Anthony Clark
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Anthony Clark

Food producer Libstar issue a H1 2022 trading update & annoucned a new acquisition

Food producer Libstar, which is not a household name to many as it tends to import groceries for major retailer and supply in-house products & groceries - as an example the chicken schnitzel your buying at Wookies (a top selling product) is made by Libstar. Also all the wraps in KFC are made by Libstar.

They also a sizeable export business in herbs, spices, condiments and tea

Last week Libstar issued a very good interim trading update for its half-year to June 2022. I had been forecasting a solid update - the market thought I was mad. They also thought I was crazy for recommending the stock. 

I may have been too early but on the trading update Libstar ran. On my expectations this quality mid-cap food business is on a forward PE of 6x. That is cheap relative to its listed sector comparatives.

Libstar has some bad history in its mix but all that is slowly changing and on this change I have high hopes for the stock and for share price recovery

See my trading update note as well as more colour on the acquisition of condiments business Cape Foods

 

https://drive.google.com/file/d/153pq6hGaL6v_G6kWFhUirpmp_rE_7yqT/view?usp=sharing

 

 


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