REPUBLIC OF ZAMBIA, Lusaka. Zambeef, the fully integrated cold chain foods and retail business with operations in Zambia, Nigeria and Ghana, provides the year end trading update.
The Group announces that for the year ending 30 September 2018, adjusted Profit Before Tax is expected to be circa $ 5 mill., which exceeds market expectations by more than 10%. This strong performance has been driven largely by the Retail and Cold Chain Food Products division, which has delivered strong volume and margin growth during the year as a result, inter alia, of the continued successful rollout of the Macro Stores and the resulting increase in demand for Cold Chain Food Products and stock feed.
Net debt at the year end is expected to be in the region of circa $ 59 mill. The Group expects to report audited annual results for the year ending 30 September 2018 on 21 November 2018.