Just had a quick look at the Zambeef Financials (2013-15) and quiet impressive. Aside from their acquisitions and haircuts received from exchange losses that may cloud the accounts over the last 2 financial years, financial management is sound in my opinion. No apparent risk of default on obligations (although they have a cocktail of instruments that many a native would believe the CEO solid years in Dubai to finance the short term and long term liabilities) however the notes clearly show it has good relations with the main stream financiers from Citi Bank to Stanbic all rallying behind them. And rightly so as they have gearing at only 33% implying a company that is not a financial risk. Furthermore, EBITDA has been stable on the back of controlled fixed costs that are around 12% meaning that it is not low enough to weather subtitle impacts in revenue change but overall it is safe growth wise. However they may want to lower that going forward. In addition, their operating cash flow may raise a bit of concern when compared to their EBITDA. Failure of the company is not eminent therefore this going concern has my stamp of approval as the company continues to deliver ROI that is supreme. I have visions of a trade sale of galactic proportions
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