2016 Highlights

January 30th, 2017


  • Record profit after tax of ZMW 157.4 million (USD 14.5 million);
  • New capital injection of USD 65 million from CDC Group PLC equity investment;
  • Regained 100 percent control of poultry operations Zam Chick and Zamhatch, through a USD 23.3 million cash settlement of RCL Foods Ltd Put Options;
  • Group debt reduction from USD 72 million in 2015 to USD 55 million;
  • Debt-to-Equity ratio falling from 60 percent to 26 percent;
  • EBITDA up by 111.1 percent in Zambian Kwacha, from ZMW 149.5 million to ZMW 316.6 million, and 38 percent in USD from USD 21.2 million to USD 29.2 million;
  • The Debt-to-EBITDA ratio falling from 4.24 to 1.73;
  • Current Ratio increasing from 1.0 to 1.58;
  • Settlement with Zambia Revenue Authority over disputed Zamanita tax liability, resulting in a write-back of approximately ZMW 34 million (USD 3.1 million) to the profit and loss account;
  • Expansion of retail network from 154 to 171 retail outlets;
  • Strong performance from the Cold Chain Food Products division, achieved through market-driven strategy involving continued roll-out of new macro outlets. Our meat processing plants handled and distributed over 40,000 metric tons of processed meats this year;
  • Commissioning of a new rotary milking parlour to improve the efficiency and capacity of the milking herd;
  • Our beef, dairy and pork operations are working towards FSSC 22000 (Food Safety System Certification) compliance;
  • Zamleather received ISO 20345 (Personal Protective Equipment) and ISO 2000 (Quality Management) certification for some of its mining sector boots;
  • Novatek became the only stock feed operation in Zambia to obtain ISO 9001 (Quality Management) and ISO 22000 (Food Safety Management) certification.

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