Zambeef Products PLC Trading Statement (8115S)
18 November 2021 - 7:00PM
UK Regulatory
TIDMZAM
RNS Number : 8115S
Zambeef Products PLC
18 November 2021
ZAMBEEF PRODUCTS PLC
[Incorporated in the Republic of Zambia]
Company registration number: 31824
Share Code: ZAMBEEF
ISIN: ZM0000000201
TRADING STATEMENT
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 ZMW55.89 compared to the
Loss Per Share of ZMW34.0 in the corresponding period last year
ended 30 September 2020. This represents c.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 Tel: +260 (0) 211 369003
Walter Roodt, Chief Executive Office
Faith Mukutu, Chief Financial Officer
finnCap (Nominated Adviser and Broker) Tel: +44 (0) 20 7220 0500
Ed Frisby/Kate Bannatyne/Tim Harper (Corporate Finance)
Tim Redfern/ Barney Hayward (ECM)
Autus Securities Limited (Sponsoring Broker) Tel: +260 (0) 761 002 002
Mataka Nkhoma (Broker)
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END
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