Libstar Holdings share price surges after strong half-year results and takeover discussions

LIBSTAR Holdings has seen its share price soar by 16.56% on Tuesday morning, closing at R4.43, buoyed by the publication of its robust first-half results, marking the company's most impressive performance since 2022.

- EDWARD WEST

This surge comes amid reports that the food company is engaging in preliminary talks regarding a potential takeover.

The company has cautioned investors that, while discussions with interested parties are ongoing, there is no certainty that these engagements will culminate in a binding offer to shareholders. A year ago, the share price was reported at R4.01, reflecting investor confidence amidst a turbulent economic landscape.

Libstar's growth trajectory has been particularly pronounced in the Ambient Products super-category during the six months leading up to June 30. Notably, branded revenue from Cape Herb & Spice's export channel surged by over 40%. In the Perishable Products segment, Lancewood has made substantial inroads into market share within both the cheese and yoghurt sectors.