Ariston seeks regulatory approvals on Claremont deal
BUSINESS REPORTER
Ariston Holdings Limited is seeking regulatory approvals for the disposal of 50% of its shareholding in Claremont Orchards Holdings (Private) Limited to a Netherlands-based private company, Tuinbouw Zonder Grenzen B.V.
The transaction will enable Ariston Holdings Limited to receive cash for its 50% equity which will be used in further macadamia and avocado orchard development, the company said in a cautionary statement.
“Accordingly, it is advised that caution should continue to be exercised in dealing with the company’s shares until such time as the outcome of the negotiations are finalised,” the company said.
In its financial results for the half-year ended March 31, 2021, Ariston posted an inflation-adjusted profit after tax of ZWL$28m, up 112% improvement on the prior comparative period’s ZWL$235m loss.
Revenue for the half-year ended 31 March 2021 at $425,530,738 reflected a growth of 64% compared to the prior period. The revenue growth was driven mainly by an increase in sales of local products.
