New Risk • Jan 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (262% cash payout ratio). Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (R308.8m market cap, or US$19.1m). Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to R20.50, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 9x in the Food industry in South Africa. Total loss to shareholders of 38% over the past three years. Recent Insider Transactions Derivative • Dec 10
CEO & Executive Director exercised options and sold R163k worth of stock On the 1st of December, Kennett Sinclair exercised options to acquire 7k shares at no cost and sold these for an average price of R24.45 per share. This trade did not impact their existing holding. For the year to March 2020, Kennett's total compensation was 64% salary and 36% non-salary. Since March 2025, Kennett's direct individual holding has increased from 93.04k shares to 100.97k. Company insiders have collectively sold R90k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Dec 01
First half 2026 earnings released: EPS: R1.28 (vs R2.48 in 1H 2025) First half 2026 results: EPS: R1.28 (down from R2.48 in 1H 2025). Revenue: R492.2m (down 5.2% from 1H 2025). Net income: R19.6m (down 48% from 1H 2025). Profit margin: 4.0% (down from 7.3% in 1H 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Nov 20
Crookes Brothers Limited to Report First Half, 2026 Results on Nov 28, 2025 Crookes Brothers Limited announced that they will report first half, 2026 results on Nov 28, 2025 New Risk • Aug 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South African stocks, typically moving 7.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.2% average weekly change). Earnings have declined by 13% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (117% cash payout ratio). Market cap is less than US$100m (R413.7m market cap, or US$23.5m). Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to R34.60, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 10x in the Food industry in South Africa. Total returns to shareholders of 14% over the past three years. Announcement • Aug 01
Crookes Brothers Limited, Annual General Meeting, Aug 29, 2025 Crookes Brothers Limited, Annual General Meeting, Aug 29, 2025. Location: radisson blu hotel durban umhlanga, 7 lagoon drive, umhlanga rocks, South Africa Upcoming Dividend • Jul 30
Upcoming dividend of R1.50 per share Eligible shareholders must have bought the stock before 06 August 2025. Payment date: 11 August 2025. Payout ratio is a comfortable 34% but the company is paying out more than the cash it is generating. Trailing yield: 5.3%. Lower than top quartile of South African dividend payers (8.4%). Higher than average of industry peers (4.3%). Declared Dividend • Jul 15
Dividend reduced to R1.50 Dividend of R1.50 is 25% lower than last year. Ex-date: 6th August 2025 Payment date: 11th August 2025 Dividend yield will be 5.0%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (117% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. Earnings per share has grown by 51% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Declared Dividend • Jun 30
Dividend reduced to R1.50 Dividend of R1.50 is 25% lower than last year. Ex-date: 6th August 2025 Payment date: 11th August 2025 Dividend yield will be 5.0%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (158% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 51% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Jun 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 33% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Dividend is not well covered by earnings (123% payout ratio). Market cap is less than US$100m (R464.8m market cap, or US$26.1m). Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R29.69, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 8x in the Food industry in South Africa. Total loss to shareholders of 21% over the past three years. Board Change • Feb 28
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Farzanah Mall was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Feb 20
CEO & Executive Director recently sold R191k worth of stock On the 12th of February, Kennett Sinclair sold around 6k shares on-market at roughly R32.05 per share. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Kennett's only on-market trade for the last 12 months. New Risk • Dec 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South African stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.0% average weekly change). Earnings have declined by 33% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (123% payout ratio). Market cap is less than US$100m (R457.4m market cap, or US$25.0m). Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to R38.99, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 11x in the Food industry in South Africa. Total returns to shareholders of 11% over the past three years. Announcement • Nov 18
Crookes Brothers Limited to Report Q2, 2025 Results on Nov 21, 2024 Crookes Brothers Limited announced that they will report Q2, 2025 results on Nov 21, 2024 Announcement • Aug 01
Crookes Brothers Limited, Annual General Meeting, Aug 30, 2024 Crookes Brothers Limited, Annual General Meeting, Aug 30, 2024. Location: the premier hotel umhlanga, cnr herrwood drive and umhlanga ridge blvd, umhlanga, durban, 4319, South Africa Upcoming Dividend • Jul 30
Upcoming dividend of R2.00 per share Eligible shareholders must have bought the stock before 06 August 2024. Payment date: 12 August 2024. Trailing yield: 5.4%. Lower than top quartile of South African dividend payers (8.6%). Higher than average of industry peers (4.9%). Reported Earnings • Jul 01
Full year 2024 earnings released: EPS: R1.48 (vs R11.44 loss in FY 2023) Full year 2024 results: EPS: R1.48 (up from R11.44 loss in FY 2023). Revenue: R727.9m (up 18% from FY 2023). Net income: R22.6m (up R197.2m from FY 2023). Profit margin: 3.1% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Farzanah Mall was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 31
Crookes Brothers Limited to Report Fiscal Year 2024 Results on Jun 28, 2024 Crookes Brothers Limited announced that they will report fiscal year 2024 results on Jun 28, 2024 New Risk • May 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 56% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Market cap is less than US$100m (R470.8m market cap, or US$25.7m). Announcement • Mar 08
Crookes Brothers Limited Announces Resignation of Ziyanda Ngwenya as Company Secretary, with Effect from 31 March 2024 Shareholders are advised that Ziyanda Ngwenya has resigned as the Company Secretary of Crookes Brothers, with effect from 31 March 2024. The Company is in the process of recruiting a new Company Secretary and a further announcement in this regard will be released on SENS in due course. It is anticipated that a new Company Secretary will be appointed before 31 May 2024. Announcement • Nov 25
Crookes Brothers Limited to Report Q2, 2024 Results on Nov 29, 2023 Crookes Brothers Limited announced that they will report Q2, 2024 results on Nov 29, 2023 Announcement • Jul 28
Crookes Brothers Limited, Annual General Meeting, Aug 25, 2023 Crookes Brothers Limited, Annual General Meeting, Aug 25, 2023, at 11:00 South Africa Standard Time. Location: Premier Hotel Umhlanga, 3-7 Umhlanga Ridge Blvd, Umhlanga, Durban, 4319 Durban South Africa New Risk • Jul 02
New major risk - Revenue and earnings growth Earnings have declined by 18% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 18% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (R487.0m market cap, or US$25.9m). Reported Earnings • Jul 02
Full year 2023 earnings released: R11.80 loss per share (vs R4.10 profit in FY 2022) Full year 2023 results: R11.80 loss per share (down from R4.10 profit in FY 2022). Revenue: R615.7m (down 9.3% from FY 2022). Net loss: R180.2m (down 388% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Announcement • Jun 30
Crookes Brothers Limited to Report Fiscal Year 2023 Final Results on Jul 26, 2023 Crookes Brothers Limited announced that they will report fiscal year 2023 final results on Jul 26, 2023 Announcement • Jun 27
Crookes Brothers Limited to Report Fiscal Year 2023 Results on Jun 29, 2023 Crookes Brothers Limited announced that they will report fiscal year 2023 results on Jun 29, 2023 Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to R34.50, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 11x in the Food industry in South Africa. Total loss to shareholders of 18% over the past three years. Reported Earnings • Nov 30
First half 2023 earnings released: R1.92 loss per share (vs R0.005 loss in 1H 2022) First half 2023 results: R1.92 loss per share (further deteriorated from R0.005 loss in 1H 2022). Revenue: R454.2m (up 1.4% from 1H 2022). Net loss: R29.3m (loss widened R29.3m from 1H 2022). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Nov 26
Crookes Brothers Limited to Report Q2, 2023 Results on Nov 29, 2022 Crookes Brothers Limited announced that they will report Q2, 2023 results on Nov 29, 2022 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Farzanah Mall was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 24
Crookes Brothers Limited, Annual General Meeting, Aug 26, 2022 Crookes Brothers Limited, Annual General Meeting, Aug 26, 2022. Agenda: To consider The Directors have proposed that there be no increase in the Non-executive Director’s fees for the financial year ending 31 March 2023. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 26% share price gain to R40.40, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 10x in the Food industry in South Africa. Total loss to shareholders of 7.1% over the past three years. Board Change • Jul 21
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Farzanah Mall was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 13
Full year 2022 earnings released: EPS: R4.10 (vs R1.52 in FY 2021) Full year 2022 results: EPS: R4.10 (up from R1.52 in FY 2021). Revenue: R678.6m (up 6.8% from FY 2021). Net income: R62.6m (up 170% from FY 2021). Profit margin: 9.2% (up from 3.7% in FY 2021). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 28
Upcoming dividend of R0.50 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 10 August 2021. Trailing yield: 1.2%. Lower than top quartile of South African dividend payers (8.0%). Lower than average of industry peers (4.1%). Reported Earnings • Jul 03
Full year 2021 earnings released: EPS R1.52 (vs R0.57 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: R635.6m (down 9.7% from FY 2020). Net income: R23.2m (up 166% from FY 2020). Profit margin: 3.7% (up from 1.2% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Executive Departure • May 01
Group Financial Director & Executive Director has left the company On the 30th of April, Gregory Veale's tenure as Group Financial Director & Executive Director ended after 5.1 years in the role. We don't have any record of a personal shareholding under Gregory's name. Gregory is the only executive to leave the company over the last 12 months. Is New 90 Day High Low • Mar 02
New 90-day high: R47.49 The company is up 1.0% from its price of R46.99 on 02 December 2020. The South African market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 2.0% over the same period. Is New 90 Day High Low • Feb 01
New 90-day low: R42.33 The company is down 6.0% from its price of R45.00 on 03 November 2020. The South African market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 30
New 90-day low: R42.75 The company is down 5.0% from its price of R44.99 on 01 October 2020. The South African market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 7.0% over the same period. Announcement • Nov 25
Crookes Brothers Limited to Report First Half, 2021 Results on Nov 24, 2020 Crookes Brothers Limited announced that they will report first half, 2021 results on Nov 24, 2020 Is New 90 Day High Low • Sep 22
New 90-day low: R41.51 The company is down 15% from its price of R49.00 on 24 June 2020. The South African market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is down 2.0% over the same period.