ZAFICCO forecasts over 300% Higher Earnings at 2021 Half Year

Listed tree processing company, ZAFICCO, has issued a statement to shareholders indicating that the company expects to record higher than expected earnings when it reports its half year performance for 2021, according to a statement from the company.

In accordance with the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of Zambia Forestry and Forest Industries Corporation PLC (“the Company”) hereby advises the Shareholders of the Company that the Earnings per Share (EPS) for the Half Year End 30th June 2021 are expected to be higher than the EPS for the Half Year End 30th June 2020 by 357%”, read a statement issued by Board Secretary Chanza K Sikazwe on 4th October 2021.

The movement in earnings is primarily attributed to the revenue growth especially in treated poles and bolstered by favourable expenditure against budget. Shareholders are advised that the information contained in this Trading Statement has not been reviewed nor reported on by the external auditors of the Company”.

“The Company expects its results for the Half Year Ended 30 June 2021to be released on SENS and published in the local press on or about 6th October 2021. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results”.

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