Last checked at 20 Nov 2018 11:18
20 November 2018
("Zambeef" or the "Group")
TRADING STATEMENT
In accordance with the Lusaka Securities Exchange ("LuSE") Listings Requirements, the Board of Directors of Zambeef Products Plc ("the Group") hereby advises the Shareholders of the Company that the Earnings per Share and Headline Earnings per Share for the Year Ended 30 September 2018 are expected to be approximately 163% higher than for the Year Ended 30 September 2017.
The movement in profitability is attributed primarily to the following points: Revenue for the Group increased by 14.2 percent in ZMW while Gross Profit margins increased from 32.8 percent in 2017 to 34.5 percent, resulting in Gross Profit increasing by 20.1 percent for the Year Ended 30 September 2018. Consistent revenue growth through expanding the retail network and driving Cold Chain Food Products and stock feed operations with like-for-like revenue growth of 12.8 percent in the retail network was one of the key drivers of growth. The Zambia Retailing Macro stores alone, had a revenue growth of 63.5 percent in ZMW. The Group has achieved a Profit After Tax of ZMW24.5 million compared to ZMW5.5 million in 2017.
The Company expects its results for the Year Ended 30 September 2018 to be released on SENS and RNS published in the local press on or after 21 November 2018.
Accordingly, shareholders are advised to exercise caution when dealing in the Company's Securities until publication of the results.
For further information, please contact: | |
Zambeef Products plc | Tel: +260 (0) 211 369003 |
Francis Grogan, Chief Executive Officer Craig Harris | |
Strand Hanson Limited | Tel: +44 (0) 20 7409 3494 |
James Spinney | |
Ritchie Balmer | |
Frederick Twist | |
finnCap | Tel: +44 (0) 20 7220 0500 |
Chris Raggett
| |
Powerscourt | Tel: +44 (0)20 7250 1446 |
Nick Dibden | |
Jana Tsiligiannis
| |
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 7,971 hectares of row crops under irrigation, which are planted twice a year and a further 8,623 hectares of rain-fed/dry-land crops available for planting each year.
Further information can be found on www.zambeefplc.com