Zambeef Products PLC Trading Statement
17 Juni 2024 - 8:30AM
RNS Regulatory News
RNS Number : 5947S
Zambeef Products PLC
17 June 2024
ZAMBEEF
PRODUCTS PLC
[Incorporated in the Republic of Zambia] Company registration
number: 31824 Share Code: ZAMBEEF
ISIN:
ZM0000000201
In accordance with the Lusaka Securities Exchange
("LuSE") Listings Requirements, the Board of Directors of Zambeef
Products Plc (the "Company" or the "Group") hereby advises the
shareholders of the Company that the Total Basic Earnings per Share
for the financial half year ended 31 March 2024 is expected to be
233% and 143% (in Zambian Kwacha and US Dollar terms respectively)
more than that of the corresponding financial period ended 31 March
2023.
The Company reiterates the guidance provided in the
Company's previous Trading Update of 23 April 2024, and therefore
there is no change to the most recent market expectations as
updated on 23 April 2024.
The Group posted the growth in earnings on the back
of resilient demand for our products, demonstrating positive growth
compared to prior year (in ZMW). The strategic initiatives put in
place, including optimized pricing across all divisions, have
helped to mitigate the impact of rising input and overhead
costs.
Notwithstanding, the sustained macro-economic
pressures the country has experienced and the worst drought ever
recorded, have continued to negatively impact the business.
Nevertheless, we believe that our vertically
integrated model serves as a strong safeguard against these
challenges. By focusing on affordability, we aim to stimulate sales
volumes and mitigate the effects of any adverse market
conditions.
We anticipate that Zambia's macroeconomic environment
will stabilise in the medium term, bolstered by enhanced investor
confidence following the successful resolution with the country's
international bondholders regarding debt restructuring.
For further information, please visit www.zambeefplc.com or
contact:
|
Zambeef Products plc
|
Tel: +260
(0) 211 369003
|
|
Faith Mukutu, Chief Executive
Office
|
|
|
M'boo Mumba, Chief Financial
Officer
|
|
|
Cavendish Capital Markets Ltd (Nominated Adviser and
Broker)
|
Tel: +44
(0) 20 7220 0500
|
|
Ed Frisby/Abigail Kelly (Corporate
Finance)
|
|
|
Tim Redfern (ECM)
|
|
|
Autus Securities Limited (Sponsoring Broker)
|
Tel: +260
(0) 761 002 002
|
|
Mataka Nkhoma (Sponsoring
Broker)
|
|
|
By
order of the Board Mwansa Mutimushi Company
Secretary
|
|
Notes to
Editors
Zambeef Products plc is the largest integrated cold
chain food products and agribusiness company in Zambia and one of
the largest in the region, involved in the primary production,
processing, distribution and retailing of beef, chicken, pork,
milk, dairy products, fish, flour and stockfeed, throughout Zambia
and the surrounding region, as well as Nigeria and Ghana.
It has 236 retail outlets throughout Zambia and West
Africa.
The Company is one of the largest suppliers of beef
in Zambia. Five beef abattoirs and three feedlots are located
throughout Zambia, with a capacity to slaughter 230,000 cattle a
year. It is also one of the largest chicken producers in Zambia,
with a capacity of 8.8m broilers and 25.4 million-day-old chicks
a
year. It is one of the largest piggeries, pig
abattoirs and pork processing plants in Zambia, with a capacity to
slaughter 75,000 pigs a year, while it's dairy has a capacity of
120,000 litres per day.
The Group is also one of the largest cereal row
cropping operations in Zambia, with approximately 7,265 hectares of
row crops under irrigation, which are planted twice a year, and a
further 8,000 hectares of rainfed/dry-land crops available for
planting each year.
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