|AfriAg Global PLC
(“AfriAg Global”, the “Group” or the “Company”;)
Unaudited Interim Results for the six months to 30 June 2016
AfriAg Global PLC (ISDX: AFRI), the London listed global food logistics specialists, today announces an excellent first half year performance with it’s first ever half year profit recorded in its unaudited interim results for the 6-month period ended 30 June 2016.
Summary of Financial Results for the period:
The Group’s gross turnover has increased by over 264% to £1.422 million for the period (6 months ended 30 June 2015 - £537,000)
The Group’s 40% owned AfriAg SA’s gross turnover has increased by 240% to £4.430 million for the period (6 months ended 30 June 2015 - £1.849 million)
The Group’s net profit after taxation for the period was £48,000 (6 months ended 30 June 2015 - £168,000 loss).
The Group’s current assets including cash of £172,000 at 30 June 2016 amounted to £1,063,000 (6 months ended 30 June 2015: £977,000).
David Lenigas, Executive Chairman of AfriAg Global, commented: "The start of 2016 has seen the business and its investments grow substantially, indeed more than we could have anticipated. We see an even stronger second half performance in front of the us as we gear up for the very busy pre-Christmas period. Our customer base has spread far more globally over the last 6 months, with regular airfreight shipments of food, not only around and within southern Africa, but to the USA, Europe, the Middle East and Asia.”
Strategic Review for the Period:
(100% owned by the Company)
The first half of 2016 has been an outstanding period of growth for the Company, with its 100% owned marketing division AfriAg Marketing Pty Ltd ("AfriAg Marketing") generating in excess of 264% increase in revenues, compared to the same period last year, to ZAR 31.307 million (£1.422 million) with a net profit for the period of ZAR 2.153 million (£98,000) and total assets of ZAR 7.569 million (£382,000).
AfriAg Marketing has had an excellent first half trading performance, almost matching the whole of last year’s trading performance. We continued to trade and ship our core lines of peas (sugar snap and Mange tout), pineapples, passionfruit, citrus, apples, herbs, chilies, butternuts from Africa to export markets mainly in Europe.
AfriAg (Pty) Ltd:
(40% owned by the Company)
In addition, the Company is pleased to report that the specialist global agri-logistics group AfriAg (Pty) Ltd ("AfriAg SA") in which the Company has a 40% equity shareholding, continues to grow from strength to strength. It has reported a 240% growth in top line revenues for the 6 month to 30 June 2016 of ZAR 97.555 million (£4.430 million) compared to the same period last year, with a net profit for the 6 months of ZAR 0.338 million (£15,000) and total assets of ZAR 68.818 million (£3.473 million). The Company has equity-accounted for its 40% share of this profit for 2016, being £6,000 (30 June 2015: Loss £19,000).
Likewise, AfriAg SA had a stellar performance for the period with its airfreight shipments of perishable food for the period recording a record 1.45 million kg, which has increased by 158% over the same period last year (6 months ended 30 June 2015: 907,000 kg). This growth has come primarily from increasing exports of perishable food from southern Africa to global markets stretching from Asia, the USA and Europe. The business has also seen a substantial increase in business from shipments of frozen meat products by sea and road from South America, Europe and the USA in to Africa.
In August 2016, the Company announces that it has launched a new 100% owned UK subsidiary, AfriAg International Limited ("AfriAg International"), to promote and sell fresh food produce from southern African producers directly in to the UK and European market places. AfriAg International will provide a UK representational base for AfriAg Marketing's Sub-Saharan based growers, who are already permitted to sell their fresh food produce directly in to the EU markets, and provide them with direct access to UK and European retailers. AfriAg International intends to offer fresh food and vegetables from producers across Kenya, Zimbabwe, Mauritius and South Africa that are sustainable, renewable and responsibly grown. Our fresh produce offer will include: Herbs, Apples, Pears, Blueberries, Physalis, Lychees, Citrus, Table Grapes, Fine beans, Sugar snap, Mange tout, Pineapples, Passionfruit, Herbs, Chilies, Butternut and Sweet potatoes.
AfriAg SA has advised the Company that it has placed orders for another 20 refrigerated trucks to increase its fleet from the current 52 to 72 before the end of the year, to cope with the pace of expansion of the trucking logistics division in southern Africa.
During the period, the Company increased revenues to £1,422,000 (6 months ended 30 June 2015: £537,000) and made a gross profit of £183,000 (6 months ended 30 June 2015: £49,000). The operating profit for the period was £6,000 (6 months ended 30 June 2015: loss £154,000). The total comprehensive income for the period attributable to equity holders of the parent was £87,000 (6 months ended 30 June 2015: loss £169,000).
There was a weighted earnings per share of 0.003p (30 June 2015: loss per share 0.01p).
Current assets at 30 June 2016 amounted to £1,063,000 (30 June 2015: £977,000).
In addition, the Company’s 40% owned AfriAg SA increased revenues to £4.430 million (6 months ended 30 June 2015: £1.849 million) and made a gross profit of £286,000 (6 months ended 30 June 2015: £58,000), with a net profit for the 6 months of £15,000 and total assets of £3.473 million. The Company has equity-accounted for its 40% share of this profit for the 6 months to 30 June 2016, being £6,000 (6 months ended 30 June 2015: Loss £19,000).
The unaudited interim results to 30 June 2016 have not been reviewed by the Company’s auditor.
The Board would like to take this opportunity to thank our shareholders, staff and consultants for their continued support and I look forward to reporting further progress over the next period and beyond.
27 September 2016|
|Results came. Fast growth.|
|No, its just beginning.More trucks and fast growth.|
|It is all nearly over ?|
|Tick up on the bid this morning... Looks like that 1m trade reported last night was a buy.Under 2 weeks now to interims.|
|Rossannan, LGO is rubbish, loads of debt, no control on placement ahoys, afri went up, but hey- it was 1.9 or 0.6 some time ago. So 0.3 is not an achievement. Evo is GONE! Has anyone noticed???? Now it trades under different name and in low 0.000000 digits. Compare this to previous 0.3-0.2 range. Solo is dilluted to hell, god, everything on your list is rubbish.
Buy something decent. With dividends, good payout. I tipped ARM long time ago. Can you see how it went up??? Good business. Rubbish is always rubbish.|
|Must be the time for placement ahoy. So much pumping. Shares are down as hell and there is no way up. DL avoided any news, comments, etc when it went to lobster pot. I place this to "Avoid like plaque" list.|
|AfriAg Global PLC
(“AfriAg Global” or the “Company”;)
AfriAg Global – New UK Based Fresh Food Marketing Division
AfriAg Global PLC (ISDX: AFRI) announces that it has launched a new 100% owned UK subsidiary, AfriAg International Limited (“AfriAg International”), to promote and sell fresh food produce from southern African producers directly in to the UK and European market places.
AfriAg International is represented in the UK by Mr Tim Stokes working under the management of AfriAg Marketing, the Company’s 100% owned South African food sales and market division.
AfriAg International will provide a UK representational base for AfriAg Marketing’s Sub-Saharan based growers, who are already permitted to sell their fresh food produce directly in to the EU markets, and provide them with direct access to UK and European retailers.
AfriAg International intends to offer fresh food and vegetables from producers across Kenya, Zimbabwe, Mauritius and South Africa that are sustainable, renewable and responsibly grown.
Our fresh produce offer will include: Apples, Pears, Blueberries, Physalis, Lychees, Citrus, Table Grapes, Fine beans, Sugar snap, Mange tout, Pineapples, Passionfruit, Herbs, Chilies, Butternut and Sweet potatoes.
David Lenigas, AfriAg Global’s Executive Chairman, commented;
“We feel this new division fills a gap in the market place. It will also diversify our supply base, feed our logistics business and can potentially offer better benefits back to the primary grower by way of increased margins.”|
|AFRI Global opening UK based marketing operations. This is really going great guns and all will be revealed in next months results.|
|And how much is the Rat's clacker now paying himself each month from Glowballs' coffers?|
|AfriAg Global PLC
(“AfriAg Global” or the “Company”;)
AfriAg Global PLC (ISDX: AFRI) announces that David Lenigas, the Executive Chairman of the Company has, on 3 August 2016, purchased 750,000 ordinary shares of 0.1p each (“Ordinary Shares”) at a price of 0.36p per share, in a transaction completed on the market. Following this share purchase, Mr Lenigas' holding in the Company has increased to 124,000,000 Ordinary Shares, representing 8.98 per cent. of the Company's issued share capital.|
|The Sun Never Sets On AfriAG Global|
|And further director buying of AFRI by DL|
|not buying any south african production. stuff gets picked up not ripe and gets shipped to UK. it is simply bland. Also it is quite expensive compared with local and EU stuff. Well- someone has to pay airfare. there are better options- support UK farmer for example. Then there is EU farmers. I know, after Brexit people might be not so keen on EU, but hey- food has to comply with stringent regulations. cannot spray whatever chemicals you like. jabba is happy that he is sending herbs to UK. who cares? all you need is a window, pot and some seeds. herbs are the easiest thing to grow. No need to waste money and pay 10 times markup and create more global warming.
So it is big no no on my list. Then there is AFRI shares... most will get spiked and impaled, just like with any DL companies. Shares used to be almost 2, and now it is on mickey mouse exchange trading just at a fraction and no one cares. jabba is the only one pumping it by placing ridiculously small buying orders.|
|DL back in the market buying again. share price has not caught up with operational progress yet and interims in next few weeks will start to unlock the growth story here. Now Global....|
(“AfriAg”; or the “Company”;)
Company’s name change to AfriAg Global Plc becomes effective
AfriAg PLC (ISDX:AFRI), the rapidly expanding London traded global logistics and food sales Company is pleased to announce, that further to the announcement of 19 July 2016, the Company’s name has now changed from AfriAg Plc to AfriAg Global Plc (“AfriAg Global”) with immediate effect.
The Company’s ticker symbol on the London ISDX Growth Market will remain unchanged as “AFRI” and the Company’s new website will be found at www.afriagglobal.com.
The Company has changed its name to AfriAg Global to reflect the dramatic changes seen by the business since its birth only a few years ago from an African centric bespoke food logistics business to one that now provides global logistics, food sales, marketing and bespoke distribution services to many corporations and food wholesalers around the world.|
|Dear Mr DL,
get the chiefs, to chat with the chief, my master, my masters - super mega volume vision pls
With oil not able to sustain the economy anymore, attention is shifting to agriculture which, decades ago, was the propeller of the then buoyant economy. This is one of the reasons the President of Dangote Group, Alhaji Aliko Dangote, made a foray into productive agriculture. Last week, he launched his Dangote Rice Outgrowers Scheme in Hadejia, Kafin-Hausa local government area of Jigawa State.|
|David Lenigas, the Company's Executive Chairman, commented;
"AfriAg has instigated this fresh herb growing and export programme for Europe
at the request of customers seeking a new consistent, sustainable and reliable
supply alternative for herb production, historically a major supplier of herbs
"This will be AfriAg's first year of this herb production and export programme
and we see this business as one we can grow significantly over the coming
|More good news out via RNS... I suspect we'll see a lot more info like this now DL is driving this again. If Barclays and HL had electronic ISDX trading live, this would be motoring now... Need those brokers connected asap to allow easy buying for the masses.|
|Also as i am sure that you are aware blueblood DL has stated that AFRI will be fully listed shortly.|
|blueblood 25 Jul'16 - 09:18 - 556664 of 556665 1 0
Dust off your AFRI certs. Online trading via ISDX coming soon. Already up 400% since AIM delisting last year!|
|Expect a few will get nice surprise when the real quote of c0.3p pops up as its still showing 0.07-0.08p on most financial sites.|
|Thanks will check my account later|
|For any HL account holders out there... My stock appeared priced in my account for the first time since AfriAg left AIM when I logged in earlier.Some sort of upgrade looks to have appeared since close of trading on Friday... Hopefully this is progress towards HL online ISDX trading finally.|