Shares in agriculture group Crookes Brothers jumped 9% on the JSE on Friday after it said it expects to report higher full-year earnings.
The group, which focuses on the production of primary agricultural products, including sugar cane, bananas, deciduous fruit and macadamia nuts, said its headline earnings per share (HEPS) for the year to end-March were expected to be 27% higher.
It expects to report HEPS of 425.1c from 334.5c a year ago. Earnings per share (EPS) were expected to be 11% higher at 446.4c, it said.
The increase in earnings and headline earnings was mainly attributable to higher earnings in the group’s banana and property segments, it said.
Aside from agricultural produce, the group also engages in property development and leasing, as well as tourism. The company operates in SA, Eswatini, Zambia, and Mozambique.
After gaining as much as 11% during the day on Friday, the Crookes Brothers share price ended the day 9.09% higher at R30.
The company expects to release its annual results on June 27.
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