REG - Zambeef Products PLC - Half Year Trading Statement

Zambeef ProductsAnnouncement

11/06/2020 11:30

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 31st 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 31st March 2019.
 
As previously announced, the half-year period ended 31st 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 31st 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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