TWK lifts revenue and earnings despite challenges
The diversified agriculture and forestry group has brushed aside grain fluctuation, drought and economic uncertainty
TWK Investments (TWK), a diversified agriculture and forestry company, brushed aside grain price fluctuations, uncertain economic and financial conditions and drought in certain parts of the country and reported higher revenue and earnings in the year to end-August. TWK, which is listed on SA’s second stock exchange, ZAR X, operates through its timber, retail and mechanisation, financial services, grain and vehicles and tyres businesses. On Friday, the company said its revenue for the year increased by 9.6% to R7.7bn. Operating profit increased 1.7% to R331.7m. Basic earnings per share were up by 18% to 434c. TWK declared a dividend of 75c, up 25% compared to 2017's 60c. “We strive for a healthy balance between borrowed and own capital and the payment of future dividends will depend on the board’s continued evaluation of TWK’s earnings, after provision is made for long-term growth, cash resources, own needs and other factors,” TWK chief financial officer Eddie Fivaz said on Friday. ...
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