REG - Zambeef Products PLC - Trading Statement

Zambeef ProductsAnnouncement

18/11/2021 08:00

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RNS Number : 8115S  Zambeef Products PLC  18 November 2021

 

 

 

ZAMBEEF PRODUCTS PLC

[Incorporated in the Republic of Zambia]

Company registration number: 31824

Share Code: ZAMBEEF

ISIN: ZM0000000201

 

TRADING STATEMENT

 

In accordance with the Lusaka Securities Exchange ("LuSE") Listings
Requirements, the Board of Directors of Zambeef Products Plc (the "Company")
hereby advises the Shareholders of the Company that the Total Basic Earnings
per Share for the financial year ended 30 September 2021 is expected to be
ZMW55.89 compared to the Loss Per Share of ZMW34.0 in the corresponding period
last year ended 30 September 2020. This represents c.264.3% growth in Earnings
per share.

 

The company stated on 21 October 2021, that the Group was pleased to announce
that "for the year ending 30 September 2021, revenue (reported in USD) is
expected to be between 10% - 15% ahead of current market expectations, with
EBITDA and EBIT being ahead by 10% - 12%. Adjusted Profit Before Tax* is
expected to be 65 - 75% ahead of current market expectations." The Group
reiterates its trading update as announced on 21 October 2021.

 

The appreciation of the Kwacha in the last quarter of the financial year
resulted in an exchange gain and reduced interest costs on USD denominated
loans and thus in an increased Profit after Tax.

 

As announced on 21 October 2021, the Group expects its audited results for the
year ended 30 September 2021 to be released in December 2021. Shareholders are
advised that the information contained in this Trading Statement has not been
reviewed nor reported on by the external auditors.

 

*Adjusted Profit Before Tax (PBT) is defined as being adjusted for any
unrealised foreign exchange gains or losses and any losses or gains made from
asset disposals.

 

For further information, please contact:

 

 Zambeef Products plc                                     Tel:  +260 (0) 211 369003
 Walter Roodt, Chief Executive Office
 Faith Mukutu, Chief Financial Officer

 finnCap (Nominated Adviser and Broker)                   Tel: +44 (0) 20 7220 0500
 Ed Frisby/Kate Bannatyne/Tim Harper (Corporate Finance)
 Tim Redfern/ Barney Hayward (ECM)

 Autus Securities Limited (Sponsoring Broker)             Tel: +260 (0) 761 002 002
 Mataka Nkhoma (Broker)

 

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