Agribusiness-focused Zeder Investments expects profits to almost halve in its year to end-February due the sale of its stake in Joy Wing Mau in 2018.
Zeder’s subsidiary Capespan disposed of its 9.23% interest in Joy Wing Mau, one of China’s largest fruit distributors, for almost R1.2bn in September 2018. This investment had seen a positive fair-value adjustment before its disposal. Zeder’s investments include a 41% stake in Kaap Agri and a 30.8% stake in Quantum Foods, as of the end of August.
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