Kaap Agri warns of pressure for farmers, but sticks to growth target
Rising fuel and fertiliser costs could offset the benefit of higher yields and prices for SA’s fruit and grain farmers, but bumper harvests are expected
25 November 2021 - 09:19
Western Cape-based agricultural services group Kaap Agri has warned SA farmers are going to feel a bit more pressure in 2022 as surging fuel and fertiliser costs weigh on margins, but it is sticking to plans to more than double its pretax profit to R1bn over the next three years.
The “audacious” earnings target will inevitably involve some mergers and acquisitions, CEO Sean Walsh told Business Day, but Kaap Agri is also looking to optimise its existing businesses, which grew revenue by almost a quarter above pre-pandemic levels in its 2021 year...
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