Johannesburg - Zeder Investments
[JSE:ZED] on Tuesday posted a 62.3% jump in headline earnings per share to 30.7 cents in the year ended February 2012, from 18.9c a year earlier.
The significant increase in headline earnings mainly relates to the impact of Pioneer Foods' Competition Commission settlement. Recurring headline earnings per share were up 3.1% to 27.9c.
Zeder - which invests in companies in agriculture, food and related sectors - said its profit for the year grew to R334.6m from R259.1m. Zeder declared a dividend of 4c/share.
The current value of Zeder's portfolio amounts to R3.1bn, of which Agri Voedsel Beleggings (with its interest of 31.1% in Pioneer Foods) and Capevin Holdings (with its effective interest of 14.8% in Distell) represent 62.4%.
Zeder said the acquisition of controlling interests in both Agricol and Chayton subsequent to its year-end would allow it to play a more active role in determining strategy and to help expand the respective businesses.
"Zeder is positive about the role that Africa, with its vast agricultural resources, could play in addressing the growing global demand for food," it said.