Adriaan Kruger
3 minute read
26 Nov 2020
8:57 am

Omnia shares buoyant

Adriaan Kruger

Shareholders can expect a good dividend at year-end.

A farmer seeding a land. Picture: AFP

Omnia’s accountants modestly show in the announcement of the results for the six months to September that earnings increased by more than 100% compared with the extremely difficult first six months of the previous financial year. In fact, earnings increased by 620% to R252 million compared with R35 million a year ago. Headline earnings per share increased by a far lesser percentage due to the dilution brought about by Omnia’s rights issue a year ago – nevertheless recovering nearly 230% from 43 cents to R1.41. The rights issue raised R2 billion, which went a long way in reducing Omnia’s debt...