Padenga downsizes crocodile unit as demand dips

The group is banking on the new equipment delivered during the quarter under review which it expects to improve efficiency going forward.

PADENGA Holdings (Padenga) says it plans to right-size its agribusiness segment in accordance with global demand for crocodile skins, which has recorded a significant downturn.The group has mining operations and a Nile crocodile breeding business operating as Dallaglio Investments and Padenga Agribusiness, respectively.The crocodile business saw a year-on-year decline in sales volumes, with 46 560…

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