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2021 Agra Annual General Meeting

Press Release:

2021 Agra Annual General Meeting

The Agra Annual General Meeting was held at the Agra / Bank Windhoek Ring on Friday, 26 November 2021. Attendees included members of the Agra Board of Directors, the Agra Executive Committee, Agra Management Committee, Agra shareholders, other stakeholders and invited guests. 

Chairman of the Agra board of directors, Mr. Ryno van der Merwe, congratulated Agra on recording its best financial performance to date. He further emphasised that the recent drought and the effects of the COVID pandemic make this achievement even more notable. Mr. van der Merwe attributes the success of Agra to the board having a very clear plan in place, which the management team has implemented successfully. On behalf of the board, he thanked the entire management team, particularly Agra CEO, Mr. Arnold Klein, for building a motivated team and implementing successful strategies during the past financial year. 

Agra CEO, Mr. Arnold Klein noted that he is proud of Agra’s financial performance during a very difficult economic climate. Agra recorded a 1.5% increase in revenue growth for a record N$1.814 billion in turnover. Mr. Klein attributes this to Agra’s proactive preparations for the COVID pandemic, with early implementation of measures and for pioneering regulatory protocols which were adopted nationwide. Other contributing factors were favourable loan negotiations, focusing on managing profit margins, as well as a focus on cost management and the diversification of non-agricultural retail lines. 

As a result, Agra managed to increase its market share in both the retail and livestock markets. Agra Auctions reported good results, despite lower livestock numbers during the previous financial year. Agra has continued to invest in property through new projects and upgrades to branches and fuel infrastructure. 

Agra shares are proving to be a very good investment option, with the share price currently standing on N$1.85 per share, which indicates Agra’s strong market performance in recent years. A dividend pay-out of 10c per ordinary share was approved for the 2020/2021 financial year. 

Two Agra board members’ terms came to an end this year. Both Mr. Ryno van der Merwe and Mr. Ben Mouton were available for re-election and since no other nominations were submitted, the proposal was accepted to re-elect both board members. 

 

contact agra

AGRA CORPORATE OFFICE

TEL | +264 61 290 9111
8 Bessemer street, Southern Industria, Windhoek

contact agra

AGRA CORPORATE OFFICE

TEL | +264 61 290 9111
8 Bessemer street, Southern Industria, Windhoek

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