Rolfes Holdings Limited - Voluntary Operational UpdateRelease Date: 27/10/2016 07:05:00 Code(s): RLF
ROLFES HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2000/002715/06)
Share Code: RLF & ISIN: ZAE000159836
("Rolfes" or "the Company")
VOLUNTARY OPERATIONAL UPDATE
Rolfes is a black controlled platform chemical group targeting
the need for food security, clean water and manufacturing demand
through the agricultural, food, industrial and water divisions.
The Group is expanding progressively in domestic, developed and
foreign emerging markets.
The board is pleased to provide the following voluntary
operational update to the market for the three months ended 30
The division supplies foliar feed, organic and adjuvant products
into high-value permanent and semi-permanent crops providing a
natural barrier against drought conditions. The division
experienced satisfactory growth for the three months to 30
September 2016. Operating profit performance for the period 1
July 2016 to 30 September 2016 increased by 19, 2 % to R9, 3
million (1 July 2015 to 30 September 2015: R7, 8 million). The
main performance drivers include an above average off season
performance in the Western Cape and the full potential of
operational restructuring initiatives, undertaken during the last
quarter of the financial year to 30 June 2016, starting to come
The division distributes food ingredients into various
industries. The current performance reflects similar growth
patterns to pre-acquisition performance. The business was
acquired effective 1 October 2015. Operating profit performance
for the period 1 July 2016 to 30 September 2016 amounted to R23
million. Operating profit for the 3 months from 1 July 2015 to 30
September 2015 amounted to R13, 9 million. The growth drivers?
include the larger national footprint due to the takeoff in
coastal regions established during the last financial year,
rising food prices and increased staple demand.
The division supplies traded products into the manufacturing,
agriculture and water industries. Operating profit performance
for the period 1 July 2016 to 30 September 2016 increased by 15,
2% to R 12, 1 million (1 July 2015 to 30 September 2015: R 10, 5
million). Increased product volume demand, export growth, good
cost control and effective treasury management contributed to the
pleasing performance of the business unit.
The water division provides specialized water purification
products and solutions into the water filtration industrial and
mining industries. Certain operational restructuring initiatives
undertaken since 1 July 2016 resulted in a substantial
improvement in financial performance and profitability. Operating
profit performance for the period 1 July 2016 to 30 September
2016 increased by 84, 2 % to R 3, 5 million (1 July 2015 to 30
September 2015: R 1, 9 million).
The information in this operational update has not been reviewed
or reported on by the Company?s auditors.
27 October 2016
Sponsor: Grindrod Bank Limited
Investor relations: Singular IR
Date: 27/10/2016 07:05:00 Supplied by www.sharenet.co.za
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