BUSINESS DAY TV: Omnia agriculture team did very well in spite of drought
ROD Humphris is MD of Omnia.BUSINESS DAY TV: A depressed mining sector has taken Omnia’s full-year earnings down with it. The diversified chemical services provider reported revenue flat at R16.8bn, while headline earnings per share (HEPS) slumped 29% to R10.33 in the year to March. Rod Humphris, MD of Omnia, joins me now on News Leader with more of the detail.Rod, so those are the headline numbers and it’s illustrative of just how much pressure you’re under at the moment. But drilling down on a segmental basis, your agricultural division seems to be offering some support as mining suffers the brunt of it all. So talk us through what’s actually at play within the business.ROD HUMPHRIS: Sure, the agricultural sector has also had a tough time this year. There’s been the worst drought in recorded history, 403mm of rain for the country as an average, which is some one-third down on the normal average rainfall, so really determined by the very strong El Niño effect. But nevertheless, I b...
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