Investment holding Zeder Investments Ltd – which owns stakes in Capespan fruit company, Kaap Agri agricultural trading group, as well as other agribusinesses – is back in the dark for six months to the end of August. The company is still considering “third party approaches” to purchase some of its assets, while still being committed to investing in the food industry with a focus on the food and beverage sectors.
After an overall loss of 14.3 cents per share during the same period the previous year, the group reported a profit of 31.4 cents this year. Zeder’s net asset value per share rose 19%, from Rand 3.73 per share as of Aug.31, 2020 to Rand 4.45 cents per share as of Aug.31, 2021. On Wednesday, its share price rose nearly 4% to 3.28 rand.
As reported on news24.com, Zeder’s underlying investment portfolio was valued at R 6.1 billion on August 31, 2021, an increase of 7% from February 28, 2021. This is mainly due to increasing the valuations of The Logistics Group and Kaap Agri.
Zeder gave the unaudited results for the six-month period ended August 31, 2021, as reflected on moneyweb.co.za.
The net asset value per share increased by 19.3%, from 373 cents per share as at August 31, 2020 to 445 cents per share as at August 31, 2021, mainly due to the increase in the valuations of TLG, Capespan and Kaap Agri, countered by the dividend paid to shareholders during the reference period.
- Overall earnings per share increased from a loss of 14.3 cents per share to a gain of 31.4 cents per share, mainly due to the increase in valuations of TLG, Capespan and Kaap Agri since the reporting period former.
- Attributable earnings per share decreased 67.1%, from 95.3 cents per share to 31.4 cents per share, mainly due to the large unreleased gain on the deemed divestment and reacquisition of investments, due to the change in investment entity status on March 1, 2020 and the unrelated capital gain on the divestments of Pioneer and Quantum, both included in the previous comparative period.
- Profit before finance costs and taxes from continuing operations according to Zeder’s consolidated income statement increased 66.2% from Rand 296 million in the previous comparative period to Rand 492 million.