The Renishaw Coastal Precinct on the KwaZulu-Natal South Coast, being developed by JSE-listed Crookes Brothers, had been listed as a catalytic project within the province, as well as for the country.
Crookes Brothers, after swinging into a R274 million loss in the 12 months to end March compared with an R89,8 million profit the year before, has forecast another challenging financial year ahead.
The banana, sugar, macadamia nuts, and property group said the conflict in the Middle East continues to exert upward pressure on input costs across all segments.
Sugar cane pricing remains under pressure. Against this backdrop, the group intends to maintain its focus on operational performance, cost efficiencies, and disciplined capital allocation.
In the sugar segment, softer pricing is anticipated across all operating regions, reflecting the strength of the Rand and Kwacha against the US dollar and the influx of imported sugar into South Africa.
