Agra Group fares well in 2005

THE Agra Group this year managed to realise income growth better than that of the last financial period, accruing a net operating profit before taxation of N$4,8 million for the year ended July 2005.

The co-operative also realised a net profit of N$4,7 million compared to N$600 000 of the previous financial year. Agra Chief Executive Officer, Peter Kazmaier, said the trend in Agra’s core business for the last eight months ending September had been positive.Kazmaier also noted that the year under review was characterised by two very different half-year periods.”Agra’s overall operational result reflected a deficit as at 31 January 2005.Various actions were launched as from December 2004, the trend was reversed and as a result Agra’s situation improved substantially,” said Kazmaier.Group gross profits increased by four per cent to N$74 million from N$71 million, and for the co-operative gross profit went up slightly to N$67 million from N$66 million of 2004.Value of livestock transactions amounted to N$432 million, excluding that from karakul pelts and wool.The increase from the N$374 million of 2004 was attributed to the increase in the number of cattle marketed and value per animal during the financial period under review.However, the retail division suffered a decrease in turnover at N$304 million for 2005 compared to N$328 million from previously; which decrease Kazmaier said was a result of the transfer of Agra’s wholesale division into a separate entity – Auas Wholesalers (Pty) Ltd.Giving an outlook on Agra, Kazmaier said: “Agra has concluded certain restructuring, cost-saving and improved control processes…We are looking forward to the implementation of a thoroughly tested and effective business and computer system in March.”Agra Chief Executive Officer, Peter Kazmaier, said the trend in Agra’s core business for the last eight months ending September had been positive.Kazmaier also noted that the year under review was characterised by two very different half-year periods.”Agra’s overall operational result reflected a deficit as at 31 January 2005.Various actions were launched as from December 2004, the trend was reversed and as a result Agra’s situation improved substantially,” said Kazmaier.Group gross profits increased by four per cent to N$74 million from N$71 million, and for the co-operative gross profit went up slightly to N$67 million from N$66 million of 2004.Value of livestock transactions amounted to N$432 million, excluding that from karakul pelts and wool.The increase from the N$374 million of 2004 was attributed to the increase in the number of cattle marketed and value per animal during the financial period under review.However, the retail division suffered a decrease in turnover at N$304 million for 2005 compared to N$328 million from previously; which decrease Kazmaier said was a result of the transfer of Agra’s wholesale division into a separate entity – Auas Wholesalers (Pty) Ltd.Giving an outlook on Agra, Kazmaier said: “Agra has concluded certain restructuring, cost-saving and improved control processes…We are looking forward to the implementation of a thoroughly tested and effective business and computer system in March.”