CHAMWE KAIRA
Leading agriculture and Namibia Stock Exchange-listed company Agra expects profit after tax, basic earnings per share and headline earnings per share for the interim period ended 31 January 2025 to increase by between 45% and 55% compared to the previous period.
“This trading statement has not been reviewed or reported on by Agra’s auditors and shareholders are advised to exercise caution when dealing in the shares until the publication of the interim financial results for the year ended 31 January 2025. The interim results will be released on or about 14 March 2025,” Agra said.
In the financial year ending 31 July 2024, Agra had said it faced unprecedented challenges, primarily due to the ongoing drought, which tested our operations and the Namibian agricultural foundation.
Agra experienced an increase of 8.3% in total turnover, rising from N$2.4 billion in the 2022/23 financial year to N$2.6 billion in the 2023/24 financial year.
Consequently, Agra’s operating profit declined by 24.1%, from N$142.5 million to N$108.1 million. Profit after tax decreased by 19.9%, from N$92.1 million to N$73.7 million. The group’s total comprehensive income saw a 21.9% reduction, from N$94.1 million to N$73.5 million.
Despite these challenges, Agra’s total equity increased to N$701 million, and the net asset value per share rose from N$6.29 to N$6.86. Similarly, Agra’s share price increased from N$3.06 to N$3.67.
The company has been one of the pillars of the agricultural community of Namibia since its inception in 1980, operating as a market-driven business within the retail industry. The company has some 4300 shareholders and more than 800 employees.
