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Crookes Brothers' profit slips amid lower crop prices and weather challenges
The Mercury
|December 01, 2025
CROOKES Brothers's revenue fell 5% to R492.2 million in the six months to September 30, 2023, while profit fell by 52% to R29.28m mainly due to lower prices for the group's crops.
"Earnings declined primarily due to softer than expected commodity prices across all crops farmed by the group. Extreme weather events further impacted volumes and yields, particularly in the banana and macadamia segments," directors of the JSE-listed group said Friday.
Revenue consequently decreased by 5% to R492.2m.
The fair value of biological assets decreased by R81.6m (R68.8m), mainly due to the year-end standing crop of sugar cane and macadamias being harvested and sold at substantially lower prices during the period.
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