FINANCIAL RESULTS FOR THE 6 MONTHS ENDED 31 AUGUST 2021
The earnings of R29.0 million for the six months ending 31 August 2021 increased by 8.6% for the comparative period the previous year. The headline earnings per share of 169 cents per share for the 6 months increased by 8.3% for the comparative period of 156 cents per share the previous year.
The improved Group results are mainly due to an increase in profits of the trade and fuel divisions and a 30% increase in the shareholding of Carpe Diem Raisins. The impact of the pandemic and lockdown due to the state of disaster is contributing to a decrease in economic activities. The ongoing drought in the Northern Cape is reflected in the slowness in the recovery of the number of livestock available for slaughter which is only 9.1% higher while the price of meat is 16.1% higher for the comparative period the previous year.
The financial results of Carpe Diem Raisins are lower than the previous year due to a decrease in sales volumes and lower sales prices realised due to the stronger R/$ exchange rate. Sales volumes decreased due to logistical problems and delays with exports at the Port of Cape Town caused by the cyber-attack at Transnet. The export backlog will be cleared within the following six-month period.
The income of the Group decreased by 0.6% to R1257.9 million due to lower income from Carpe Diem Raisins.