Zeder FY HEPS down 17% to 22c

Agricultural group Zeder (ZED) on Wednesday reported headline earnings (HEPS) dropped 17% to 22c from 26.6c in the year to end February.

The decrease in HEPS was largely due to an increase in the non-recurring performance fee payable following Zeder's strong share price growth and the increased number of shares in issue as a consequence of the merger with Agri Voedsel.

Recurring HEPS increased by 15.4% to 35.3c‚ driven by strong contributions from the majority of Zeder's underlying portfolio companies.