Picture: 123RF/ERIC LIMON
Picture: 123RF/ERIC LIMON

Nutritional Holdings has generated a profit for the first time in four years as the company underwent changes to its board structure and dynamics of product focus.

The company, which is seeking to acquire cannabis group Ukusekela Holdings, reported on Monday that its profit jumped 210% to R5.9m in the year to end-February from a R5.4m loss previously.

Headline earnings per share rose to 0.04c from a headline loss per share 0.06% previously. Net assets value increased 67% to 2.19c. 

Its subsidiary Nutritional Foods was heavily affected by the national lockdown in late-March that affected supply.

“With an economic recession looming, food and beverage revenues are under pressure,” company chair Abdullah Khalfan Nasser said.

“Our mitigation plan involves adjusting our sourcing strategies, rationalising our product ranges, and assessing the resilience and agility of our supply chains as well as route-to-market channels,” Nasser said.

mjoo@businesslive.co.za

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