Zambeef Products Plc Chairman: Dr Jacob Mwanza
Key Points 
  • Overall, financial performance for the Group improved on the same period in the previous financial year, with gross profits up 25.3% to ZMW323.5m.
  • Gross margins increased from 32.7 per cent. for March 2014 to 38.3 per cent. for March 2015.
  • EBITDA increased by 91.9% to ZMW92.3m. 
  • Net cash inflow from operating activities increased by 165% to ZMW168.2m; and net cash inflow before financing increased by 171% to ZMW61.0m.
  • Gross profits from core cold chain food product divisions increased by 47.7% to ZMW137.8m.
  • Administrative expenses continued to be tightly controlled with administrative costs (including depreciation) increasing by 7% in ZMW and decreasing by 6% in USD terms.
  • Zambian Kwacha depreciated by 21.5% against the US Dollar, resulting in exchange losses of ZMW51.6m (USD8.0m); and also adversely impacting divisions with USD denominated inputs.
  • Zamanita disposal completed on 1 June 2015, for USD26.4m (with third party debt of USD11.1m remaining in Zamanita), allowing the Group to unlock value/capital gain and reduce gearing.

HY 2015 financial results

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