Invsestment holding company Zeder has posted strong financial results for the six months ending 31 August, with all its investee companies, apart from Agrivision Africa, managing to stabilise the lower levels of profitability reported in the previous interim period. The lower profitability was primarily due to the impact of the drought, according to Zeder’s interim financial results.
Recurring headline earnings per share increased 158% to 9,8c, while HEPS increased 605% to 30,3c.
The sum-of-the-parts value per share, however, decreased 15% to R6,67 on 31 August, while the value of its underlying portfolio decreased from R14,2 billion on 28 February to R12,5 billion on 31 August. Zeder’s 27% stake in Pioneer Foods, the company’s largest investment, representing 49,1% of its portfolio, declined from R7,7 billion at the end of February to…