'Eskom ate our lunch'. Agrimark owner KAL says load shedding hit it harder than Covid-19

Trading and agriculture-focused KAL Group, formerly Kaap Agri, says load shedding hit it harder than even the Covid-19 pandemic, but it remains upbeat after diversifying away from just farmers in order to cater to a wider range of consumers.

CEO Sean Walsh said on Thursday that 2023 would go down as "the year that Eskom ate our pie," but the group still reported a more than 16% rise in profit to R480 million in its year to end-September, when revenue jumped almost 43%.

The group benefitted from acquiring a string of fuel retail stations, with growth in fuel volumes and market share gains in key products helping to offset pressure on its agriculture-focused businesses.