Zambeef | Trading Statement for the financial year ended 30 September 2021

November 18th, 2021

In accordance with the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of Zambeef Products Plc (the “Company”) hereby advises the Shareholders of the Company that the Total Basic Earnings per Share for the financial year ended 30 September 2021 is expected to be K55.89 compared to the Loss Per Share of K34.0 in the corresponding period last year ended 30 September 2020. This represents about 264.3% growth in Earnings per share.

The company stated on 21 October 2021, that the Group was pleased to announce that “for the year ending 30 September 2021, revenue (reported in USD) is expected to be between 10% – 15% ahead of current market expectations, with EBITDA and EBIT being ahead by 10% – 12%. Adjusted Profit Before Tax* is expected to be 65 – 75% ahead of current market expectations.” The Group reiterates its trading update as announced on 21 October 2021.

The appreciation of the Kwacha in the last quarter of the financial year resulted in an exchange gain and reduced interest costs on USD denominated loans and thus in an increased Profit after Tax.

As announced on 21 October 2021, the Group expects its audited results for the year ended 30 September 2021 to be released in December 2021. Shareholders are advised that the information contained in this Trading Statement has not been reviewed nor reported on by the external auditors.

*Adjusted Profit Before Tax (PBT) is defined as being adjusted for any unrealised foreign exchange gains or losses and any losses or gains made from asset disposals.

For further information, please contact:

Zambeef Products plc
Walter Roodt, Chief Executive Officer
Faith Mukutu, Chief Financial Officer
Tel: +260 (0) 211 369003
finnCap Limited (Nominated Adviser and Broker)
Ed Frisby/Kate Bannatyne/Tim Harper (Corporate Finance)
Tim Redfern/Barney Hayward (ECM)
Tel: +44 (0)207220 0500
Autus Securities Limited
Mataka Nkhoma (Broker)
Tel: +260 (0) 761 002 002

By order of the Board

Mwansa Mutimushi
Company Secretary
Issued in Lusaka, Zambia on 18 November 2021

Zambeef Products 2021 FY Trading Statement (LuSE).pdf