1H21 Earnings Update: High sales volumes bolster performance
Inflation-induced selling price increment steers profitability
The Group registered strong revenue growth albeit a harsh macro-economic environment characterized by hyperinflation, high interest rates, tight liquidity, and local currency depreciation. However, the Group was not significantly affected by COVID-19 lockdown measures owing to its classification as an essential business. Resultantly, maize seed sales volumes for the period went up 100% while wheat seed sales volumes registered a 10% increase.
