Earnings of R51.6 million represent a 1.0% decrease compared to the previous year. Headline earnings per share decreased from 310 cents per share to 292 cents per share.
The poorer results are mainly attributed to the decrease in Carpe Diem’s profit contributions and the R1.4m negative impact of IFRS16.
SA Dorper and the Fuel Division performed better than the previous year, with the Retail Division achieving a similar result as last year. The Meat, Livestock and Motor divisions performed somewhat poorer than the previous year due to poor market, environmental and economic conditions.