Agriculture
Suidwes jubilant over record growth─── SABRINA DEAN 18:45 Tue, 19 Jul 2016
Bloemfontein - The agriculture business, Suidwes Group, has announced the best profit in its 107 year history after recording growth of just under 59%.
Managing Director, Herman van Schalkwyk, says although the full impact of the devastating drought is only likely to reflect in next year’s results, part of the reason for the good growth lies in strategic decisions to diversify.
He says they invested in businesses related to agriculture, but which are not so vested in agriculture that rainfall patterns have a huge impact. He says the results speak volumes.
"We are very, very glad that it happened in these challenging times and it placed us in a position where we could also give a decent dividend to our members. We had 180% growth in the dividend given last year.
"So we're extremely happy that we could also assist the agricultural sector, specifically our members, in a challenging year like this."
The Suidwes Group has also announced it has acquired a majority share in the mechanisation business Agrifriend Equipment.
OFM News
Suidwes jubilant over record growth:
