2013 annual report
November 25th, 2013
Welcome to the 2013 Annual Report.
This year, there have been some very encouraging operational results across the business, with cropping leading the way in revenue growth. However, these positives have been countered by specific events that have resulted in a reduced net profit for the Group for the year.
Since the Group was first listed on the Lusaka Stock Exchange in 2003, it has grown significantly and become recognised locally, and regionally, as a leading food producer employing modern agricultural processes and techniques to deliver to its customers high quality products at affordable prices. We continue to focus on improving profitability, investing in our infrastructure to enhance efficiencies and increase scope and scale in turn enabling Zambeef to take advantage of the growth opportunities available in Zambia and the wider region.
The macroeconomic fundamentals of Zambia generally remain positive: GDP growth is projected to be in excess of 6 per cent. in 2013; inflation has been relatively stable at approximately 7 per cent.; the Bank of Zambia Policy Rate continues to be in single digits (9.75 per cent.) and the Kwacha has depreciated by 8 per cent. against the US Dollar over the last 12 months…
