AfriAg jumps on strong first half performance

4th Aug 2015 10:41

(ShareCast News) - Shares in AfriAg jumped almost 8% early on Tuesday, after the investment group reported strong performances for the first six months of 2015.The London-listed company said that approximately 907,000kg of perishable produce was transported by air in the first half to the end of June, which represented a 40% year-on-year increase to the volume it air-freighted in the corresponding period in 2014.The group added that it expects its performances to pick up in the second half, as they tend to be typically quieter in the first six months of the year, indicating the weakness of the South African rand against the pound and the euro is boosting its export business."We are now seeing strong growth from AfriAg's agri-logistics business, AfriAg SA, in southern Africa as the business becomes more established," said group executive chairman David Lenigas.AfriAg shares were up 7.94% to 0.367p at 1001 BST on Tuesday.