Guest Contributor | Mar 20, 2018 | 0
Agra profit rises marginally
Cooperative turned limited company, Agra Group reported a marginal rise in profit upon releasing its annual financial statement, increasing N$500,000 to end the year at N$31.8 million. In stark contrast however, net profit before tax increased 7.2% to equate N$49.3 million in 2014.
Following the devastating drought witnessed in 2013, Agra managed to increase its net turnover for the livestock division by 10% which amounted to N$31.7 million.
Equally, the retail and wholesale division reported an improvement in turnover from N$1.02 billion to N$1.16 billion, reflected in a 14% increase in turnover, while gross profit for the retail and wholesale division spiked by a marginal 5%, a notable change reflected in the annual report.
Lackluster performance emanating from the property division left little to be desired despite the fact the Auas Shopping Mall was virtually fully let for the period under review. Gross income increased by only N$9 million to close of at N$21.9 million in comparison to N$20 million for 2013.