South African agriculture and food group Acorn Agri & Food has managed to post positive results and successfully conclude three acquisitions, in what was a difficult year. The company reported year-on-year growth in revenue of 40% to R11.2 billion.
“Upon reflection of the 2022 financial year, ended 28 February, it becomes clear that our group reported great victories despite being faced with tough battles,” says CEO André Uys.
Acorn Agri & Food is a public company that invests in companies that support food security. It operates in agricultural inputs and services, energy, logistics, primary agricultural production and food processing.
The group reported an operating profit before capital items of R326 million, an increase of 17% on the previous financial year. The group has shown progress in its diversification strategy, despite challenges brought on by the pandemic and pronounced changes in the market conditions of primary agriculture.
[ R1 = €0.057 ]