Zambeef Products Plc Chairman: Dr Jacob Mwanza
Key Financial Highlights
- Despite significant macro-economic challenges, the Group has had an excellent operational performance for the year with operating profits increasing by 140% in USD and 189% in ZMW.
- Profit before tax excluding exchange losses increased by 590% in USD and 728% in ZMW.
- Unfortunately these excellent operational results have been severely impacted by the rapid depreciation of the Zambian Kwacha during the year resulting in exchange losses of USD20.2m (ZMK142m).
- The Group has generated significant cash during the period with net cash inflow from operating activities increasing by 171% in USD and 223% in ZMK.
- The Group’s core cold chain food product divisions performed particularly well, with gross profits increasing by 29.1 per cent. in ZMW terms and 7.6 per cent. in USD terms.
- Exchange losses for the year of USD20.2 million have reduced a pre-tax profit of USD15.1 million into a pre-tax loss of USD5.0 million.
- The large cash inflow from operations as well as the disposal of Zamanita have resulted in the Group reducing term debt by US$21.2m and its working capital facilities by USD25.0m while the total net debt in USD terms has reduced by USD46.2 million, from USD118.5 million (2014) to USD72.3 million.
- The Group converted a significant amount of its USD denominated debt into ZMW in order to mitigate future currency exchange risks/losses.
FY 2015 financial report
- Zambeef Plc 2015 Annual Report
- Zambeef Plc FY 2015 financial results
- Zambeef Plc HY 2015 financial results
- Zambeef Plc FY 2014 financial results presentation
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