Provisional Summarised Financial Results - Year Ended 30 April 2017
|Name of Issuer||Senwes Limited|
|Country of Incorporation||ZA|
Provisional summarised financial results for the year ended 30 April 2017
Please be advised that Senwes Limited has published the results for the year ended 30 April 2017 and are available here.
Dividends A dividend cover of 2,2 times was applicable on 30 April 2017 and a dividend yield of 4,3% was achieved on the opening market price on 1 May 2016. The board of directors declared a final dividend of 25c/share, which has to be confirmed at the annual general meeting to be held on 24 August 2017. The record date for the dividend is 24 August 2017 and the payment date 1 September 2017.
Looking ahead The agricultural industry is rapidly changing. In addition, the new season will probably have its own particular challenges. A late season, pressure at silos to finalise grain deliveries, large quantities of grain with a high moisture content and low prices are some of the challenges which will be faced by the largest part of the summer grain area in South Africa. Primary agriculture will probably outperform the larger economy as far as growth is concerned, but expectations are that the surplus cash will more than likely be used to normalise debt levels. Despite the good crop, it is uncertain as to whether the estimated risk level will return to normal levels. The season following a drought cycle, is usually characterised by extensive adjustment of customer issues and excussions of those who did not survive the cycle. Stakeholders, however, can be assured that Senwes will continue with its investment in innovation and integration and that it will increase its relevance in the future even more.
By order of the Board of Directors.
EM Joynt (Mrs.)
GROUP COMPANY SECRETARY
Tel no. (018) 464 7104
30 June 2017