10 August 2012 – interim results

The group has announced its interim results for the six months to 30 June which have revealed strong revenue growth and improved margins.  Revenue for the period rose over 79% to £122.9m whilst net operating profit on continuing operations was £4.7m, an increase of £6.5m over the same period in 2011.  Net debt has fallen by 23% to £78.7m.  Following the divestment of the aviation business which is now separately quoted as FastJet, the group is now a significant African focused agriculture and logistics company which is well placed to benefit from growth on the continent.  BUY.