Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

AVI Drops Most in Three Months on Fish Catch: Johannesburg Mover

Jan. 15 (Bloomberg) -- AVI Ltd. dropped the most in three months in Johannesburg after saying sales from its fishing operations suffered from low catches and high fuel costs.

The South African company with businesses including Frisco coffee and Spitz shoe shops slid 7 percent, the biggest drop since Oct. 8, to 53.30 rand in Johannesburg. Sales at its I&J fish and frozen food division declined 3.9 percent to 720 million rand ($82 million) on poor catches, ship repairs and fuel charges.

“I&J was the major driver behind the lower-than-expected sales growth,” Jiten Bechoo, an analyst at Avior Research (Pty) Ltd. in Cape Town, said by phone. “It’s a volatile business.”

More than 4.9 million shares were traded, almost 5.5 times the daily average in the previous 90 days. The company’s 30-day historical volatility, a measure of stock swings, increased to 27.7 from 18.5 yesterday. The FTSE/JSE Africa All Share Index’s 30-day volatility gauge was at 8.14 from 8.40 previously. A higher reading means an asset’s price can have bigger moves.

To contact the reporter on this story: Jaco Visser in Johannesburg at avisser3@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.