Positive annual results for Omnia despite drought

Chemical products company Omnia Holdings has released its annual results for the year ending 31 March 2016.

The results show that its agriculture division performed well despite difficult market conditions caused by the drought.

Omnia’s agriculture division consists of Omnia Fertiliser and Omnia Specialities. The latter supplies water-soluble, foliar products and organic soil conditioners to the Southern African market through offices in Australia, New Zealand and Brazil.

The agricultural division’s results are as follows:

  • Revenue growth of 13% to R8,22 billion on the back of a 4% decrease in total volumes.
  • Domestic volumes sold declined by only 1% despite a 27% reduction in total maize hectares planted and an overall reduction of 22% in the summer crop hectares planted. 

“We expect a normal fertiliser season once rainfall returns and this could result in a nice uptick in volumes [sold],” said Omnia Holdings CEO Rod Humphris.

The company maintained a strong balance sheet and according to Humphris this will allow the company to explore new growth opportunities in the chemical services industry.

“There is a lot to be done in Africa but we also want to look further afield,” he said