Anglo African Agriculture Plc releases financial statements for FY19

Anglo African Agriculture Plc (LON: AAAP) has released its financial statements for the year ended 31 October 2019.

  • The company detailed about the Group’s Business Dynamic Intertrade (Pty) Ltd and stated that it recorded an increase in top-line revenue of 4.34 per cent to £1.8 million, while it was a decrease of 18 per cent to £1.7 million in 2018.
  • This increase was partly due to a general price increase to its customers for the core spice lines of commodity paprika and chilli-based products as well as company’s value-added blended products.
  • The gross profits decreased by 3.41 per cent to £598,894, while it was an increase of 19.8 per cent to £620,048 in 2018.
  • The company reported that Dynamic’s underlying losses for the year decreased to £271,339 due to cost-cutting initiatives implemented in previous years in both the company’s Intertrade and the holding company.
  • On 28th February 2020, at the time of writing, GMT 08:08 AM, AAAP shares were trading at GBX 5.50, down by 0.25 points or 4.35% against the previous day closing price.