Zeder final results February 2019
Revenue decreased to R7.6 billion (2018: R8.5 billion). Gross profit lowered marginally to R1.487 billion (2018: R1.489 billion). Total income increased to R787 million (2018: R433 million). Profit attributable to owners decreased to R89 million (2018: R254 million). Furthermore, headline earnings per share grew to 45.1 cents per share (2018: headline earnings of 24.8 cents per share).
The directors have resolved to declare a gross final dividend of 11 cents (2018: 11 cents) per share from income reserves in respect of the year ended 28 February 2019. The final dividend amount, net of South African dividend tax of 20%, is 8.8 cents (2018: 8.8 cents) per share for those shareholders who are not exempt from dividend tax.
Company prospects and outlook
Zeder has enviable strategic equity interests in leading organisations that span the agribusiness value chain. While the broader investor sentiment towards the sector and country is clearly negative at present and the external operating environment remains challenging, the underlying fundamentals of Zeder and its portfolio have not changed. The investee companies are well positioned with strong balance sheets and leading management teams that are committed to delivering on their respective long term strategies. We believe that, despite inevitable cyclicality, investing in the agribusiness industry should offer attractive long-term returns and the strength of our defensive portfolio should ensure that we deliver the required shareholder return over time.
Shareholders are reminded that Zeder will be hosting a webcast and a conference call at 15:00 (South African time) on Wednesday, 17 April 2019 to present the results to shareholders and the market. To register for the webcast or the conference call, please follow the below links.
- View and listen mode, with a Q&A facility
- Link: www.ccwebcast.eu/links/zeder190417/
Conference call details:
- Listen-only mode, with an interactive Q&A at the end
- Link: www.diamondpass.net/6458812