SEED.zw | Abridged Group audited results and presentation for FY ended 31 March 2017

By Published On: June 8th, 2017Categories: Corporate announcement

Seed Co Limited announces the release of the audited results and presentation for the year ended 31 March 2017. Below are excerpts from the results:

Financial results

Revenue

The Group archived a turnover of $135m, a 40% increase on prior year driven by increased maize seed sales volumes.

Margins

Gross margin improved by 1% compared to prior year mainly due to product mix.

Outlook

– Another season of good rains is being forecast in our main markets which is expected to spur demand for seed.

– The command agriculture programme in Zimbabwe was a huge success in turning around maize production in the country and is earmarked by authorities to be in place for another three years…

Directors

Mr David E.B. Long was appointed Group Board Chairman with effect from 7 September 2016, replacing Mr Patrick J. Rooney who retired from the board on 10 August 2016…

Dividend

The Board is recommending that a dividend of 2.92 cents per share be declared for the year ending 31 March 2017 payable to shareholders in the register of the company as at 23 June 2017. In addition, the Board would like to declare an additional once-off special dividend of 1.46 cents per share due to the exceptional performance in the current year.

Shareholders will have an option to elect either cash or scrip dividend. Shares will trade cum-div until 20 June 2017 and ex-div from 21 June 2017. A separate announcement of the payment date will be made in due course.

By Order of the Board

J. Matorofa
Company Secretary

Related downloads

FY2017 financial results.pdf

FY2017 financial presentation.pdf

The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.

Seed Co Limited (SEED.zw)

Share price: 23,020.00 ZWL cents (0.00 | 0.00% – 24/03/23)

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