4 Aug 2015 07:00
4 August 2015
AfriAg plc
("AfriAg" or the "Company")
Trading Update - Agri-Logistics business growth.
AfriAg (AIM: AFRI) is pleased to announce another strong performance in the half year to 30 June 2015 for perishable airfreight logistics from AfriAg's 40% owned specialist African agri-logistics group AfriAg SA (Pty) Ltd ("AfriAg SA").
David Lenigas, Executive Chairman of AfriAg, commented:
"We are now seeing strong growth from AfriAg's agri-logistics business, AfriAg SA, in southern Africa as the business becomes more established. AfriAg SA's fleet of 25 refrigerated trucks are now running near capacity and AfriAg Holdings Ltd is now in the process of buying the first of its own refrigerated large trucks to cater for the expanding agri-logistics contracts on offer in the southern African region."
Airfreight Logistics - Update:
A total of approximately 907,000 kg of perishable produce was air freighted by AfriAg SA for the 6 month period from 1 January to 30 June 2015;
· This represents a 40% increase over the 650,000 kg airfreighted for the corresponding period last year, typically the quieter half of the year. In the six months to 31 December 2014 a total of 1,074,000 kg of perishable goods was airfreighted and we are anticipating an increase in the second half performance of the year to 31 December 2015;
· The low oil prices and sustained weakness in the Rand against the Pound and the Euro continue to have a positive effect on AfriAg's export business.
These perishable goods were trucked by AfriAg's modern fleet of 25 refrigerated trucks from farming and fishing operations in southern Africa and exported by airfreight from to Europe and Asia from Johannesburg and Cape Town international airports.
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For further information please contact:
AfriAg plc: +44 (0) 20 7440 0640
David Lenigas
Donald Strang
Nominated Adviser and Broker:
Cairn Financial Advisers LLP +44 (0) 20 7148 7900
James Caithie / Jo Turner / Carolyn Sansom
Public Relations:
Square1 Consulting +44 (0) 20 7929 5599
David Bick
Mark Longson