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Crookes Brothers reports record earnings amidst challenges in agribusiness sector
The Star
|June 30, 2025
SOUTH African agribusiness Crookes Brothers has announced robust headline earnings of R64.9 million for the year to March 31, marking the highest annual earnings since 2014, following strong performances from its banana and property divisions.
This was despite facing a myriad of challenges, including adverse weather conditions and operational setbacks, its directors said Friday.
In reflecting on this performance, the company did announce a 24% reduction in its dividend to 150 cents a share. This decrease stems from the exclusion of once-off proceeds from the sale of its deciduous division in 2024, even as headline earnings surpassed the previous year's figures. Crookes Brothers' share price fell by 3.33% to R30.21 on Friday afternoon on the JSE.
From continuing operations, revenue rose by 15% to R833.8m. A highlight was the property division's successful sale of shopping centre and filling station sites, contributing significantly to overall revenue stream.
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