Revenue decreased to R8.5 billion (2017: R10.2 billion). Gross profit lowered to R1.5 billion (2017: R1.7 billion). Total income increased to R433 million (2017: R313 million). Profit attributable to owners turned around to R254 million (2017: loss of R796 million). Furthermore, headline earnings per share recovered to 24.8 cents per share (2017: headline loss of 47.5 cents per share).
The directors have resolved to declare a gross final dividend of 11.0 cents (2017: 11.0 cents) per share from income reserves in respect of the year ended 28 February 2018. The final dividend amount, net of South African dividend tax of 20%, is 8.8 cents per share for those shareholders who are not exempt from dividend tax.
Zeder remains actively involved with its underlying portfolio of companies and continuously seeks new investment opportunities. We believe that, despite inevitable cyclicality, investing in the agribusiness industry should offer attractive long-term returns and the strength of our companies and management teams, combined with a defensive portfolio mix, should contribute to the continued sustainability of results. We believe that the company and its shareholders will benefit from same.