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G ENE R AL
Interim
results
with Francois Strydom
SENWES SCENARIO HAD
A CHAT TO THE SENWES
GROUP CHIEF EXECUTIVE,
FRANCOIS STRYDOM,
REGARDING THE INTERIM
RESULTS.
TELL US ABOUT THE
COMPANY’S RESULTS
The profit after tax of R103 million is 9.7% lower than the corresponding period of the previous
year. The reality of lower volumes
and the 42% decline in the quantity of grain received should place
the 9,7% referred to in perspective. Strydom is of the opinion
that the balance sheet and cash
flow statement are actually much
more important than the income
statement. “It reflects the longer
term soundness of the company.”
WHY WERE THE DECLINES
NOT MORE SEVERE?
Taking the 42% decline in grain
volumes into account, our results
should actually have declined by a
much higher percentage. Why did
it not happen? Senwes is known
for its structured and disciplined
conduct and actions, which reflect
in cost control and efficiency ratios. In addition the debtor book
is managed scrupulously. The respective business units managed to
maintain market share and certain
business units, such as Grainlink
4
Silo Operations, Senwes Credit
and Senwes Equipment, even
managed to expand market share.
FRANCOIS’S VIEW
ON REALITY
“Firstly, do not wrap reality in
flowery paper. When you are in
business you need to squarely face
reality. Secondly, the attitude with
which you run your business, irrespective of circumstances, is absolutely critical. It is important to
realise that bad things will happen.
However, bad things have to be
dealt with in the correct manner.”
AN ANALYSIS OF THE
CURRENT SITUATION
“We are currently dealing with a
natural phenomenon, namely El
Niño, the impact of which is huge.
It is not something which may )