BKB delivered a strong operational and financial performance in 2025, building on the disciplined consolidation strategy of recent years. The Group has emerged leaner, and more profitable, with a strengthened balance sheet and clear strategic focus. Total value of business transactions increased by 3.8% to R13,7 billion, while total revenue for continuing operations grew 3% to R6,8 billion. Profit before tax rose by 41% to R185,8 million, while headline earnings increased by 48.8% from R91.8 million to R136.6 million.
Most divisions contributed significantly to the results, reflecting the resilience of BKB’s diversified portfolio.
Natural Fibre faced weaker performance as international wool prices remained depressed due to global macroeconomic and geopolitical factors, resulting in lower commissions earned. Wool trading, within Pinnacle Fibres, was significantly impacted by the tariffs imposed between the USA and China, as well as local harbour delays, which restricted sales and margins achieved. House of Fibre, the mohair brokerage division, was impacted by severe market volatility, with demand recoveries proving short-lived amid global instability and consumer pressure. Despite this, the business continued to gain market share in a highly competitive environment.
Livestock delivered improved results, supported by stronger red meat prices in the second half of the year and strategic growth through online auctions and alliances. However, foot-and-mouth outbreaks disrupted auctions, and debtors required strict management. Property recorded a turnaround with strong farm property sales, although the residential market remained under pressure.
Retail and Fuel achieved stable profitability, with fuel volumes up 3% year-on-year, supported by site upgrades and expansions. Lower feed demand and delayed harvests impacted turnover, but the division focused on diversification, waste reduction, and working capital optimisation.
PaKHouse Brands outperformed expectations and delivered a strong contribution to the Group’s overall results, following the successful restructuring of the business. Despite subdued demand from informal markets and competition from cheaper imported sugar, the Consumer Goods division, through Atlanta Sugar, managed to outperform targets and is now consistently delivering strong profits. Optimised milling at the Bethlehem grit mill supported sales growth amid local market pressures. The milling operation replicated its strong performance of the prior year.
Despite global and domestic headwinds such as tariffs, weaker fibre demand, animal disease outbreaks, and South Africa’s constrained economy, BKB’s broad platform of businesses once again proved resilient.
Over the past five years, BKB has reshaped itself into a digitally enabled, vertically integrated agri-business. Key initiatives included streamlining the portfolio, reducing debt and finance costs, investing in on-farm management digital platforms like DSS, supporting sustainability through regenerative programmes such as NXT and enhancing shareholder value through share buy-back initiatives. Looking ahead, strategic priorities include the successful expansion of the Gritco mill, further progress within the livestock division, and improving returns through selective growth opportunities.
Beyond financial performance, BKB remains committed to transformation, employee development, caring for the environment and community support. Through training, learnerships, its national auction platform, and extensive retail footprint, the Group connects producers to markets and supports livelihoods. With a strong foundation, disciplined capital management, and stable leadership, BKB is well positioned to pursue sustainable growth, strengthen its role as a trusted partner in agriculture, and unlock long-term value for shareholders.
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