Zambeef Products PLC Trading Statement (6459A)
03 Junio 2021 - 1:00AM
UK Regulatory
TIDMZAM
RNS Number : 6459A
Zambeef Products PLC
03 June 2021
Zambeef Products Plc
("Zambeef" or the "Group")
Trading Statement
Zambeef (AIM: ZAM, LuSE: ZAMBF), the fully integrated cold chain
foods and retail business with operations in Zambia, Nigeria and
Ghana stated on 6 May 2021, that the Group was pleased to announce
that for the year ending 30 September 2021, revenue (reported in
USD) is expected to be inline with current market expectations, and
EBITDA, EBIT and adjusted Profit Before Tax* are now expected to
end 20% - 30% ahead of current market expectations (all reported in
USD). The Group is pleased to confirm this remains the case.
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 (EPS) for the half-year period ended 31 March 2021 is
expected to be 3290% higher in Kwacha (2167% higher in USD) than
that for the half-year period ended 31 March 2020.
The increase in earnings is predominantly due to the strong
start that the Company had to the financial year, delivering
results of pre-pandemic levels. The cost containment embarked on by
management also continues to yield significant savings and
contributed positively to the earnings. Improvements in the load
shedding situation, following the good regional rains, resulted in
reduced generator fuel expenditure and improved production
efficiencies.
Notwithstanding, the half year period continued to present
challenges in the operating environment, resulting from the
Covid-19 pandemic and the previous 2020 economic uncertainties,
despite greater stability compared to the second half of the 2020
financial year. The rising inflation put pressure on consumer
disposable incomes and reduced the share of wallet going towards
food spend. Supply constraints on some of Zambeef's product lines
further put pressure on cost of inputs. Despite the challenges,
demand for products, particular poultry products, remained strong
allowing the Company to remain inline with revenue
expectations.
Shareholders are advised that the information contained in this
Trading Statement has not been reviewed nor reported on by the
external auditors of the Group.
The Group intends to announce its results for the half-year
period ended 31 March 2021 in June 2021. The results are expected
to report revenue of ZMW 2,150,473,000 (USD 102,501,000) and a
reported Profit After Tax for the period of ZMW 53,934,000 (USD
2,570,000). Accordingly, Shareholders are advised to exercise
caution when dealing with the Company's securities until the
publication of results.
*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.
Lusaka, Zambia - 02/06/2021
For further information, please contact:
Zambeef Products plc Tel: +260 (0) 211 369003
Walter Roodt
Faith Mukutu
finnCap Limited (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 Tel: +260 (0) 761 002 002
Mataka Nkhoma
About Zambeef Products plc
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, eggs,
dairy products, fish, flour and stock feed, 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 and egg producers in Zambia, with a
capacity of 8.8m broilers and 22.4m 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 its 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 7,787 hectares of row
crops under irrigation, which are planted twice a year, and a
further 8,694 hectares of rainfed/dry-land crops available for
planting each year.
www.zambeefplc.com
-Ends-
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