New-look Zeder now more exposed to economic cycles
Company expects efforts to strengthen its balance sheet and preserve cash will improve agility in crisis
New-look agribusiness investor Zeder, flush from the recent sale of its mainstay investment in consumer brands giant Pioneer Foods, now faces the tough task of convincing a sceptical market of its investment merits.
Zeder, which issued financial results to end-February on Friday, trades at a deep discount to its last stated sum-of-the-parts (SOTP) valuation. This indicates investors are not banking on further value-unlocking efforts in the short term after the Pioneer transaction, which brought in about R6.4bn when it was sold to international beverage and food group PepsiCo...