senwesIncome up 21%, grain stocks dip

Senwes’s net income increased 21 percent to R264 million in the year to April, it said yesterday. However, output was under pressure because of low rainfall during the second half of the season, while low opening stock levels and an average crop would result in lower grain stock levels, the farm services provider said. “Expectations are that a lot of corporate action will be taking place during the coming months, which will probably change the landscape and the dynamics of the agricultural services sector.” – Bloomberg