The Directors of Zambeef Products Plc are pleased to announce the release of the Group’s 2012 unaudited financial results for the six months ended 31 March 2012. Below are some highlights from the results.

Financial highlights

• Revenue was up 43% to ZMK651.7bn from ZMK456.6bn
• Gross Profit grew by 59% to ZMK228.2bn from ZMK143.7bn
• EBITDA increased by 107% to ZMK78.2bn from ZMK37.7bn
• Pre Tax Profit was up 65% to ZMK41.2bn from ZMK25.0bn
• Earnings per share was down 0.3% to ZMK146.1 from ZMK146.6

Operational highlights

• Significant revenue growth across the Group’s businesses with the strongest divisional growth being cropping (up 211%), chicken and eggs (up 82%), stock feed (up 63%), and the West African operations
  (up 56%).
• The integration of Mpongwe Farm operations into the cropping division has gone well with the farm
  producing in excess of 27,000 MT of soya beans.
• In Zambia two new retail outlets were opened and four existing outlets refurbished. In West Africa, in partnership
  with Shoprite, 2 new stores were opened.
• The Group continued its expansion of production capacity with the following projects underway:
  1. Expansion and upgrade of Zamanita’s crushing capacity to 100,000 MT of soya beans per annum at
     a cost incurred during the period of ZMK22.2 bn, the completion of which is expected in the second half
     of the financial year ended 30 September 2012.
  2. Upgrade and expansion of processing facilities at Master Pork Limited at a capital cost exceeding
     ZMK18 bn, which has been completed during the period.
  3. Expansion and upgrade of the dairy processing plant at a total cost to date of ZMK4.3 bn, completion
     of which is expected by September 2012.
  4. Increase in the dairy herd through the purchase of 180 in-calf heifers at a cost of ZMK2.1 bn.

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