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Johannesburg - Agri-business Senwes will postpone its listing on the JSE, the company said on Friday.
While the listing would still be pursued during the next calendar year, "some of the conditions for preparation of listing are still outstanding".
The company added that it had therefore been decided to postpone the listing to "a later stage".
Announcing its interim results for the month ended October 31 2010, Senwes said it showed a turnover of R4.1bn compared to the R4.7bn during the previous reporting period.
"Although trading under tough macroeconomic circumstances, the enterprise still performed well and the business base was maintained."
The net profit after tax amounted to R90.2m (2009: R146.7m), which represented a decline of 39%.
"The variance is mostly due to the deferral of grain income to the second six months of the financial year. The board is, however, satisfied that the results reflect the current business cycle and economic conditions, which confirms that the company is operated on a sound business platform."
An interim dividend of 10 cents per share was declared, payable to shareholders by mid-December 2010.
