Crookes final results March 2018
Revenue for the year jumped to R576.1 million (R477.2 million) whilst operating profit after biological assets shot up to R73.9 million (R4.1 million). Profit for the year from continuing operations attributable to owners turned around to R27.0 million (loss of R4.8 million). In addition, headline earnings per share came to 145.0cps (loss of 50.6cps).
The board of directors, ("the board") has, resolved not to declare a final dividend for year ended 31 March 2019.
Notice of annual general meeting ("AGM")
Notice is hereby given to shareholders as recorded in the company's securities register on Thursday, 21 June 2019 that the 106th annual general meeting of shareholders of Crookes Brothers Limited ("Crookes Brothers" or "the company"), in respect of the financial year ended 31 March 2019 will be held at the Mount Edgecombe Country Club on Friday, 26 July 2019. Registration will commence at 09h00 thereafter the annual general meeting will be held at 10h00.
The annual report and the Notice of the AGM will be published on or about 27th June 2019.
Although industry estimates reflect a welcome improvement in sugar prices in the year ahead, these are still well below previous levels, with a meaningful recovery unlikely in the short term. The plight of the sugar industry emphasizes the importance of the group's diversification strategy. We expect increasing contributions from our macadamia and deciduous divisions in the short term as these orchards mature, restoring profitability to more acceptable levels.