Press Release | Senwes Group announces good interim results

  • 03 December 2021
  • 1771
  •  
  •  
  •  press-release



Headline earnings surpassed its previous record of R224 million by 35,3% to R303 million. 

Cash flow generated from operating activities amounts to R548 million – 24,5% higher than the R440 million generated during the same period of the previous year. 

A profit attributable to the equity holders of the holding company of R302 million was delivered for the six months ended on 31 October 2021 – a 7,5% increase from the R281 million of the corresponding period of the previous year. 

“An exceptional agricultural production and commodity price cycle, together with the unlocking of synergies from merger transactions and the reorganisation of the business model of the group, resulted in record results for the first six months of the financial year,” said Francois Strydom, Group Chief Executive Officer. 

Other financial highlights are an interim dividend declaration of 34 cents per share (2020: 32 cents/share) while the net asset value of the group increased by 10,7% to R18,04 per share. Normalised headline earnings per share of 185,7 cents were delivered in the first six months, which is 21,6% higher than the 152,7 cents/share for the corresponding period of the previous year. 

Prospects
Strydom explained that high rainfall and carry-over soil moisture levels should result in a good season. He added that it is foreseen that grain commodity exports will increase, which will likely result in lower grain carry-over stock levels for the next season. 

He continued to say that strategically the group will continue to pursue its diversification drive to lower risk markets. 

END
Enquiries: Francois Strydom
Group Chief Executive Officer
Tel: +27 18 464 7115
Email: [email protected]
www.senwes.co.za






Related Articles