ububele holdings ltd (UBU) Snapshot

Ububele Holdings Ltd. announced that Mr. Leonardo Altini has resigned as non executive director of the company with immediate effect.

Ububele Holdings Ltd. reported unaudited consolidated earnings results for the six months ended December 31, 2012. Gross revenue was ZAR 383,858,411 against ZAR 340,131,911 for the same period in the last year. Operating profit was ZAR 15,950,517 against ZAR 21,023,103 for the same period in the last year. Profit before taxation was ZAR 9,566,807 against ZAR 13,683,469 for the same period in the last year. Profit from continuing operations was ZAR 7,235,170 against ZAR 8,378,677 for the same period in the last year. Profit for the period was ZAR 7,193,796 against loss for the period of ZAR 20,996,376 for the same period in the last year. Profit attributable to equity holders of the parent was ZAR 4,923,678 against loss attributable to equity holders of the parent of ZAR 24,005,996 for the same period in the last year. Earnings per ordinary share 2.76 cents against loss per ordinary share were 13.54 for the same period in the last year. Earnings per ordinary and diluted share from continuing operations were 2.78 cents against 3.01 cents for the same period in the last year. Cash generated from continuing operations was ZAR 37,448,619 against ZAR 12,754,553 for the same period in the last year. Cash in flows from operating activities was ZAR 27,713,341 against Cash out flows from operating activities of ZAR 4,218,895 for the same period in the last year. The reason for this seemingly downward trend is the fact that the monsoon rains arrived later in Southern Africa than normal. Early-season sales of herbicides and insecticides occur at lower margins than the sales later in the season, leading to lower than average margins for the first six months of the year. Margins also remain under pressure, as farmers are price sensitive after a very dry season in 2011 and 2012.

Ububele Holdings Ltd. is looking for acquisition opportunities. “Ububele will continue to invest into scientific products in the future, whether by acquisition or organically, to grow our business even further,” Ububele’s Financial Director, E Kruger said.