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07/06/2017
2017 Interim financial results
Performance Overview
Half year performance characterised by a challenging economic environment in Zambia and a major drop in soft commodity prices significantly impacting the Group’s financial performance
Despite this, the Group has delivered a strong top line performance, driven by:
Excellent sales and volume growth in the Retail and Cold Chain Food Products division
Continued aggressive expansion of this retail network
Robust operational performance from the Farming and Stock feed operations
Two Macro outlets opened with a further eight expected to open this year
Aim to open 10-12 new Macro outlets each year
Shoprite rollout of new stores continues
Zambia – three more expected in the second half
Nigeria – three new stores opened
Ghana – one new store opened in April 2017
Second half of the year expected to see a significant number of key projects
Continue to grow the retail network and drive retail sales to help grow CCFP and stock feed operations
Commission new Copperbelt distribution hub which will increase capacity and improve
efficiencies in the Copperbelt and North Western Province operations
Complete expansion of breeding farm and hatchery to increase day-old chick production from 210,000 to 310,000 birds per week
Expand broiler processing operations to increase production by 30,000 birds per week
Commission new stock feed plant at Mpongwe to bring additional stock feed capacity on line
Continue to look at ways of strengthening our balance sheet through disposal of non-core assets
