Financial Results for the year 2019

Financial Results for the year - 2019

We are pleased to present our first Integrated Annual Report, which makes a holistic assessment of the financial and non-financial performance of Agra Limited for the 2018/19 financial year. Considering the current economic climate, the financial performance of Agra is commendable. Agra aligns its thinking and its approach to long-term value creation to the principles of Integrated Reporting and aims to communicate its total value creation story clearly and comprehensively to all our stakeholders.

The impact of the drought on agriculture and agricultural production is to my mind the worst it has been in recent history. Producers had no other choice but to drastically reduce livestock numbers and attempt to maintain core herds. The profitability of the different commodities is also under pressure. Agriculture finds itself in a perfect storm, resulting in President Hage Geingob announcing a state of emergency. The reality is that the producer’s debt levels are high and that their livestock numbers have at least halved. Furthermore, the economic recession resulted in less job opportunities which adds to the phenomenon of decreasing disposable income of producers and the limited financial means of consumers.

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Corporate News

The Agra ASIF Committee has been renovating the Oncology Family room at the Windhoek Central Hospital, for the past 4 months. On the 27th of September, the Committee handed over the renovated room to the Hospital Management. The Renovated Oncology Room, which was quite basic before, was refurnished with brand new furniture, appliances, educational books and games.   Mr. Christo van Wyk,...

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