Agriculture group lifts dividend 4.7% as half-year revenues grow 28.7% to R4.4bn
Agriculture group Kaap Agri says net profit rose 3% in the six months to end-March as higher sales were partly offset by lower margins.
But the addition of the Forge business in KwaZulu-Natal, and market share gains in the inland region, “have positively impacted the trade division”. Net profit was R161.2m, from R156.2m a year before. The group declared a gross interim dividend of 33.5c a share, a 4.7% increase. The group’s gross profit margin reduced to 15.5% from 17.3%, “impacted by increased turnover of low-margin agri products, fuel price increases and general retail margin pressure”.
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