Zambeef Products PLC Half Year Trading Statement (6931P)
June 11 2020 - 5:30AM
UK Regulatory
TIDMZAM
RNS Number : 6931P
Zambeef Products PLC
11 June 2020
Zambeef Products Plc
("Zambeef" or the "Group")
Half Year Trading Statement
In accordance with the Lusaka Securities Exchange ("LuSE")
Listings Requirements, the Board of Directors of Zambeef Products
Plc hereby advises the shareholders of the Group that the earnings
per share for the half year period ended 31(st) March 2020 is
expected to be 0.41 Ngwee (0.03 Cents) compared to a loss per share
of 7.92 Ngwee (0.67 Cents) for the haf year ended 31 March 2019.
This represents a growth of 105% in Kwacha terms (104% in US$
terms) compared to the six months period ended 31(st) March
2019.
As previously announced, the half-year period ended 31(st) March
2020 saw Zambeef post encouraging results amidst a challenging
environment characterised by the onset of a global Coronavirus
pandemic and macro-economic headwinds. Customer spending power was
eroded as inflation soared due to the depreciation of the Zambian
Kwacha against major currencies, fuel price increase and erratic
electricity supply.
The revenue and profit growth achieved in the face of a
challenging environment, demonstrates the Group's fundamental
strength as a diversified and vertically integrated business.
The Group intends to announce its unaudited results for the half
year period ended 31(st) March 2020 on 17 June 2020. The results
expect to report revenue of ZMW 1,797.6 million / US$129.2 million
(HY 2019 ZMW 1,416.5 million / US$118.8 million) and a Group income
for the period of ZMW2.1 million / US$0.154 million (HY 2019 ZMW
31.8 million loss / US$2.7 million loss).
Lusaka, Zambia - 11/06/2020
For further information, please contact:
Zambeef Products plc Tel: +260 (0) 211 369003
Walter Roodt, Chief Executive Officer
Faith Mukutu, Chief Financial Officer
Strand Hanson Limited Tel: +44 (0) 20 7409 3494
James Spinney
Ritchie Balmer
Rob Patrick
finnCap Tel: +44 (0) 20 7220 0500
Chris Raggett
Powerscourt Tel: +44 (0)20 7250 1446
Nick Dibden
Bethany Johannsen
Pangaea Securities
Wendy Tembo Tel: +260 (0) 211 220 707
Notes to Editors
The Zambeef Group is one of the largest integrated cold chain
food producers in Zambia, involved in the production, processing,
distribution and retailing of beef, chicken, pork, milk, eggs,
dairy products, fish, flour and stock feed. The Group also has
large cereal row cropping operations (principally maize, soya beans
and wheat), with approximately 7,973 hectares of row crops under
irrigation, which are planted twice a year and a further 8,776
hectares of rain-fed/dry-land crops available for planting each
year.
Further information can be found on www.zambeefplc.com
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London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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