The Agra Group has attained net profit before tax of more than N$100 million for the 2021/2022 financial year, for the very first time, the company revealed at its recently held Annual General Meeting.
At the meeting, Ryno van der Merwe, chairman of the Agra board of directors highlighted the importance of successful leadership under Agra CEO, Arnold Klein, who has built a passionate and motivated team, driven by a culture of good values, dedication and ethics, and who have implemented successful strategic projects during the financial year.
Van der Merwe further emphasised that, despite numerous internal and external operational challenges in the agricultural sector, the Agra board and management team have a clear strategic plan for the next three years.
Agra CEO, Arnold Klein noted that he is proud of Agra’s financial performance as they recorded a 10.4% growth in revenue for the group, with a turnover of N$1.997 billion for the previous financial year.
Over the past three years, Agra has consistently achieved substantial growth in both revenue and profits, and Klein said that he is happy to be adding value to Agra shareholders.
Klein noted that Agra’s net asset value have also increased steeply over the years. He noted that shareholders often do not realise the full value of their Agra shares. Agra’s share price showed significant growth of 34.4% for the previous financial year and in addition, a dividend of 13.5 cents per ordinary share was approved.
At the meeting, all special and ordinary resolutions were approved.
Two of Agra’s directors, Jesko Woermann and Bennie Amuenje, were re-elected to the Agra board.
Marcel Lamprecht was appointed as a 7th director.
Lamprecht brings his wealth of experience and expertise in retail, wholesale and agriculture to the Agra board of directors.
The Agra annual general meeting noted that Flip de Bruyn, General Manager of Finance, is retiring after 19 years of employment at Agra. De Bruyn’s replacement, Philip Maass was introduced to those in attendance. He will take up the position as from 1 December 2022. #team#culture#experience#management#leadership#growth#ceo#finance#share#retail#agriculture#tax#tax#projects#employment#ethics