The financial results of the Senwes Group reflect a 30,4% increase in turnover, amounting to R6 680 million (2022: R5 123 million), while earnings before interest, taxation, depreciation and amortisation increased from R518 million to R715 million.
Cash flow generated from operating activities amounts to R918 million – 39,3% higher than the R659 million generated during the same period of the previous year.
A profit attributable to the equity holders of the holding company of R392 million was delivered, which was a 29,8% increase from the R302 million of the corresponding period of the previous year.
“The group’s exceptional results are an indication of a well-balanced business in terms of diversification,” said Francois Strydom, Group Chief Executive Officer. He added that effective cost-control, continued efficiencies and strategic capital allocation remain important focus areas for the business, especially given increased inflation and trading margin pressures. Apart from specific operational and macro-economic challenges, the continuation of good agricultural production and commodity price cycles had a positive impact on the group’s results.
Other financial highlights are an interim dividend declaration of 36 cents per share (2022: 34 cents per share) while the net asset value of the group increased by 14,4% to R20,6 per share. Normalised headline earnings per share of 249,4 cents were delivered in the first six months, which is 34,3% higher than the 185,7 cents per share for the corresponding period of the previous year.
Prospects
Strydom believes that market sentiment will remain positive for summer-crop producers at the onset of the rainfall season, since expectations are that this should be another good rainfall season.
Senwes expects to deliver another robust set of financial results, reflecting the underlying strengths of the business model and the ongoing execution of its strategic objectives.
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Enquiries: Francois Strydom
Group Chief Executive Officer
Tel: +27 18 464 7115
Email: [email protected]
www.senwes.co.za
Elmarie Joynt
Group Company Secretary and Chief Legal Advisor
Tel: +27 184 647 104
E-pos: [email protected]
www.senwes.co.za
