The earnings of R31.8 million year ending 31 August 2023 represent a 15.9% decrease compared to the previous year.
The headline earnings per share for the six months decreased from 194 cents per share to 122 cents per share.

The lower results are mainly attributed to the drop in profit from Carpe Diem Raisins, the Trade Division and SA Dorper (hides and skins).
The Fuel Division`s results are higher than the previous year.

Carpe Diem Raisins` results are weaker due to increased credit risk (R17m) in the American market where larger volume of raisins was marketed during the past year, s well as lower tonnage sales, although better sales prices were realized than the previous year.
The lower sales volume of Carpe Diem Raisins are attributed to more subdued demand for raisins from European consumers and the logistical delay of shipments on available ship cargo space.

Included in the earnings is the profit of sale of the Motor and Livestock division premises of R11m.    The cash position of the Group has weakened by R60.7 million to R98.0 million from February 2023. The weaker demand for raisin harvest puts more cash flow pressure on the company. However, the balance sheet is very healthy. The net working capital decreased by R21.6 million from 28 February 2023 mainly due to creditors decreasing by R160.1 million, while inventory decreased by R44.1 million and trade debtors by R112.1 million.

Profit Announcement

For year ended 31 August 2023

KLK Annual Report 2023 and Annual General Meeting Resolutions

Consolidated Financial Statements

For the year ended 28 February 2023