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 (EPS) for the half year financial period ended 31 March 2022 is expected to be 172% higher in Kwacha terms (228% higher in USD) than that of the corresponding half year period ended 31 March 2021.
The Company stated on 27 April 2022, that for the year ending 30 September 2022, revenue (reported in USD) was expected to be 10% above then market expectations, and EBITDA, EBIT and adjusted Profit Before Tax* were then expected to end 15% – 25% ahead of then market expectations (all reported in USD). The Group is pleased to confirm this remains the case.
The period saw relative macroeconomic stability with the exchange rate appreciating and inflation on a steady downward trajectory. However, the Groups performance continues to be impacted negatively by input costs in the livestock divisions due to increases in commodity prices and fuel costs.
Despite these headwinds, the Group posted results that were ahead of market expectation driven by good performance in our cropping and stockfeed division and continued focus on cost control.
As announced on 27 April 2022, the Group expects its results for the six-month period ended 31 March 2022 to be released on or about 30 June 2022. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s Securities until the publication of results. The shareholders are further 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