25th Apr 2016 07:11
LONDON (Alliance News) - Zambeef Products PLC on Monday said its expects to outpace market expectations for revenue, operating profit and adjusted pretax profit in the half to the end of March.
Zambeef, an agribusiness group with operations in Zambia, Nigeria and Ghana, said its results will beat the market view both in Zambian kwacha and US dollar terms, though translation effects will hit its US dollar numbers.
The group saw a strong performance in its cold chain food product retailing, stock feed and farming in the first half and is now working to developing its retail distribution and cold chain food product business.
"It is encouraging to see the strong operational performance of the business continuing in the first half of the current financial year. Zambeef remains committed to the expansion of its retailing and distribution operations, and the results of this focus on the core Zambeef business are being seen," said joint Chief Executive Carl Irwin.
"Consequently, the board believes that it will report interim profits that are ahead of current market expectations," he added.
Zambeef shares were up 9.7% to 7.95 pence early Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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