South African food producer Libstar's annual earnings down

South African food producer Libstar reports an 11.8% fall in full-year earnings as price rises failed to offset higher costs. Consumer goods producers have lifted prices to cope with surging costs for raw materials, energy and packaging after Russia's invasion of Ukraine compounded pandemic-related supply chain logjams. But they face a challenge in how much they can raise prices without sacrificing sales as increasingly cost-conscious consumers trade down.

Source: reuters.com