Crookes Brothers’ headline loss per share is expected to widen to 193.7 cents per share in the six months to September 30, from the headline loss of 51.2 cents per share at the same time a year before, after it experienced challenging trading conditions.
“The surge in agricultural input and logistical cost increases precipitated by the Russia-Ukraine conflict affected all agricultural operations. The financial performance, especially in the deciduous fruit, banana and macadamia divisions was negatively impacted by a large contraction in average selling prices resulting in significant pressure on margins, and losses in some divisions. Sugar volumes are slightly down due to the timing of the harvest, but prices have been stable,” the group said in a trading statement on Friday.
The basic loss per share for the interim period is expected to be 192.1 cents per share, compared with the basic loss per share of 0.5 in the six months to end September 30, 2021. The interim results are expected to be published on or about November 29, 2022. Crookes’s share price closed 5.26% lower at R36 on the JSE on Friday.
BUSINESS REPORT