AGRIBEL HOLDINGS LTD FINANCIAL REVIEW 2021
FINANCIAL STATEMENTS
1.1 . For management and control purposes , the group is divided into business units based on their products , services and clients and consists of the following reportable segments :
( Agribel )
( Agri Credit Solutions , Certisure Group and Molemi Sele Management )
It is Agribel ' s strategy to consider interests in other agricultural and agricultural related businesses . Currently Agribel owns only interests in Senwes Limited and Agribel Capital ( Pty ) Ltd .
Credit extension to agricultural producers and grain buyers . Agri Credit Solutions also renders agricultural services to its growing client base . Certisure includes commission received on short-term , crop and life insurance premiums and administration fees . Molemi Sele holds investments in agricultural companies , an index tracker fund and a cell captive .
( Senwes Equipment , JD Implemente , Staalmeester , Senwes Equip Holdings , Hinterland Group , Bastion Lime Group , Falcon , KLK Landbou Group and Suidwes Holdings Group )
Sales at retail outlets ( including fuel stations ), direct sales of farming input requirements , car dealership sales , the importation , manufacturing and sale of mechanisation goods and spare parts , as well as the servicing of such farming and other mechanisation equipment . Wholesale supply of agricultural , fuel and industrial retail products to agricultural retail outlets . Production and processing of raisin products , cattle hides , dorper skins , beef and lamb carcasses ( abattoirs ). Buying , repackaging , distribution and selling of pesticides and fertiliser for the household and retail market . Provides laboratory services .
( Senwes Grainlink , Tradevantage , Graanmakelaars , Grainovation and ESC )
( Senwes Share Incentive Scheme Trust , Thobo Trust , Senwes Capital , Senwes Agrowth and RealFin Collective Investment Scheme )
Income received from the handling and storage of agricultural produce , the transportation of grain commodities as well as the processing of seed . Commission earned on marketing of grain and revenue from the sale of grain . Electronic issuing and trading of silo certificates .
Head office services , information technology , human resources , planning and property development , central administration , fleet management , secretarial services , legal services , corporate marketing , risk management , internal audit , strategic development , group finance and market intelligence , corporate finance , business engineering and treasury and governance .
Income tax is managed on a group basis and is not allocated to operating segments . Services rendered between related parties as reflected in operating segments are on an arm ’ s length basis in a manner similar to transactions with third parties . The Group Executive Committee monitors the operational results of its business units separately for the purpose of making decisions about resource allocation and performance assessment . Segmental performance is evaluated , based on operating profit or loss , and is measured consistently against operating profit or loss in the consolidated financial statements .
Agribel Holdings Limited Reg nr : 1996 / 017629 / 06 AGRIBEL ANNUAL FINANCIAL REVIEW 2021
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