Markets & Equities

Company Report: Zeder (ZED)

Zeder released their results for the year ended 29 February 2016.

Headline earnings increased by 66% to 36.5c per share.

The total dividend came in at 9c up 64% year on year.

As at the end of the financial year, the SOTP (Sum of the Parts) value per share decreased by 13% to R8.03. The movement was mainly due to weaker share price performance by Pioneer Foods which decreased by 21% during the reporting period.

During the year under review Zeder acquired the remaining 25% interest held by minority shareholders in Capespan to increase their total interest to 96.6%.

Pioneer Foods headline earnings from continuing operations increased by 30% for the year ended 30 September 2015.

Capespan reported a modest increase in recurring headline earnings for the year ended 31 December 2015.

Kaap Agri delivered encouraging results and reported a 16% increase in headline earnings for the year ended 30 September 2015.

Zaad reported a 20% increase in recurring headline earnings for the year ended 29 February 2016.

Agrivision reported a 7US$ loss for the financial year ended 31 December 2015.

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Schalk Louw
As Portfolio Manager at PSG Wealth Old Oak and with over 20 years’ experience in the investment industry, Schalk has consistently delivered solid returns to his clients and has certainly become one of South Africa’s most well-known strategists. He started his career in 1994 at the stockbroking company, Huysamer Stals (later ABN Amro). He joined SMK Securities in 1997, (later became BoE Personal Stockbrokers) and was later appointed as director and branch manager. In 2001 he co-founded Contego Asset Management and managed the company as CEO up to March 2014, after which he joined PSG Wealth Old Oak. Schalk has also become a regular household name with investors, with his reports being published in many of the national press. He completed his MBA in 2008.

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