The JSE-listed Kaap Agri group, trading in agricultural, fuel and related retail markets in Southern Africa, has produced a robust financial performance amid the COVID-19 resurgence during the first quarter (Q1) of its current financial year, which ends in September 2021.
The company’s statutory revenue increased by almost 17% and gross profit by 19,6% compared with Q1 of the previous financial year. Recurring headline earnings for the quarter grew 35,4%, from R84 million to R113,7 million. Headline earnings increased 38,2%, from R82,2 million to R113,6 million.
According to Kaap Agri CEO Sean Walsh, the company achieved strong operational performance across all divisions, especially in the increase in grain trading income, with retail-related revenue growing 14,5% compared with the previous year.
Growth was underpinned by sales in building materials, pet accessories,…