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Unfavorable weather impacts Crookes Brothers interim banana yields

Unfavorable regional weather negatively impacted yields from bananas (as well as sugar cane) reported by Crookes Brothers over the six months until the end of September 2021. Southern African company Crookes Brothers has agricultural operations in the KwaZulu-Natal, Mpumalanga and the Western Cape, as well as in Swaziland, Zambia and Mozambique.

Sugar cane and hanging macadamia nuts represented R53.2 million of the group's reduction in operating profit compared to the previous interim period. However, an industry-wide reduction in bunch mass arising from the unfavorable weather may impact positively on banana prices due to less fruit being available in the open market.

Over the interim period the group's revenue increased by 9% to R448 million. Profit declined by 62% to R17.5 million and the headline loss per share was 51.2 cents compared to headline earnings of R1.51 per share in the interim period last year.

Source: news24.com


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