Zeder reports 21.9% decline in net asset value after lower investment valuations

ZEDER Investments’ share price increased 5% on the JSE Tuesday morning even though it reported a 21.9% decline in net asset value to R1.68 per share in the six months to August 31.

- EDWARD WEST

The JSE-listed company said in results released Tuesday the drop in net asset value mainly arose from a 31 cents a share special dividend and a downward adjustment in the valuation of its unlisted investments. The share price traded at R1.26 per share - a year it was at R1.95.

The headline loss per share surged by 143.9% from 4.1 cents to 10 cents, mainly as a result of the downward valuation adjustments, countered by dividend income received.

The investment in Zaad, which invests and operates in the specialised agri-inputs industry, with a focus on emerging markets, particularly in Africa, the Middle East, and Eastern Europe, was revised down to R2 billion from R2.16bn at the end of February 2025, while the stake in Pome Investments was revised down to R65 million from R119m.

The interim pretax loss from continued operations increased by 107% from a loss of R71m to R147m. No dividends were declared during the six months.

Advanced discussions were underway with third parties on subsidiary Zaad, and the board continued to assess further wealth-maximising strategies, they said.