Article: AVI unable to fully pass on food hikes.(Business Report)

BYLINE: Tom Robbins

Manufacturer AVI had been unable to fully pass on higher food input prices to the consumer sector, the group said yesterday, after differences between the government and industry over high food prices heightened last week.

On Friday Agriculture and Land Affairs Minister Lulu Xingwana accused firms in the food supply chain of "making money out of hungry people".

But AVI chief executive Simon Crutchley denied the company was guilty of excessive profiteering, after the group reported first-half operating profit from continuing operations was up 16 percent to R535 million.

Revenue rose 18 percent to R4 billion, ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!