PRESS RELEASE - OVK FINANCIAL RESULTS
OVK continues to perform due to diversification
The agricultural company ‘Oos-Vrystaat Kaap Bedryf Beperk’ (OVK) released its financial results for the financial year ending 28 February 2018 and announced that a record profit before tax and loyalty programme payouts was reached at R261.6 million. This indicates a 25.5% increase compared to the previous year. The volume of business done in the past year amounted to R 9.1 billion.
OVK's diversification, geographically as well as the various business units, makes it one of the most stable and healthy agricultural businesses in South Africa.
OVK is proud that most of its shareholders are bona fide agricultural producers and the number of shareholders grew to 12 231 by the end of the 2018 financial year. According to Agri SA’s president, Mr Dan Kriek, South Africa currently has about 40 000 commercial farmers, of which approximately 30% are OVK shareholders.
OVK's share prices increase continuously and are supported by a good and constant profit history. Through the loyalty programme and dividends, over the past year, more than R70 million has been paid to OVK's agricultural producers and shareholders.
According to Mr Stefan Oberholzer, Managing Director, OVK is grateful to the Heavenly Father and thank every client for their continued support. "We are excited about Agriculture in South Africa and also the year which lies ahead. OVK will continue to focus on its core operations and will also exploit new opportunities wherever possible”.
A complete report is available on the OVK Website (www.ovk.co.za)