In accordance with the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of Zambeef Products Plc hereby advises the Shareholders of the Group that the Earnings per Share for the financial year ended 30th September 2019 is expected to be approximately 73% higher (in Kwacha terms) than the corresponding period last year for the Group.

The financial year ended 30 September 2019 proved to be a challenging year amidst a regional drought and macroeconomic headwinds. The weakening of the Zambian Kwacha against the USD, an increase in the cost of fuel together with strained electricity supply impacted not only on Zambeef’s performance but also the customers’ spending power.

Despite the challenges noted above, Zambeef achieved significant growth. This achievement, in the face of such economic and market difficulties, illustrates the Group’s fundamental strengths as a diversified and resilient business.

The Group intends to announce its results for the financial year ended 30 September 2019 on 9 December 2019. The results expect to report revenue of ZMW 3,134,967,000 (US$254,462,000) and a Group income for the year of ZMW 18,494,000 (US$1,501,000).

Lusaka, Zambia – 06/12/2019

Sponsoring Broker:

Pangaea Securities Limited
(Member of the Lusaka Stock Exchange)
(Regulated by the Securities and Exchange Commission)

Tel: +260 (211) 220 707 or 238 709 / 16 Fax +260 (211) 220 925
Pangaea Office Park, 1st Floor, Great East Road, P.O. Box 30163 Lusaka, Zambia
Issue Date: 6 December 2019

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