Despite tough economic conditions during the past year, Kaap Agri has announced a 6% increase in recurring headline earnings per share for the company’s financial year ended September 2019.
The earnings per share increased to 375,19c and resulted in a five-year compound annual growth rate of 10,9%.
Sean Walsh, CEO of Kaap Agri, said the growth was attributed to the company’s diversification strategy, with revenue increasing 29,1% to R8,5 billion, up from R6,5 billion in 2018.
Capital expenditure of just over R346 million was incurred during the year, with just over R195 million spent on expansion, R44,7 million on replacement assets, and about R106 million on new site acquisition deposits. In addition, R50,8 million was incurred for the acquisition of businesses.
Wesgraan, specialising in grain handling, storage and grain-related products,…