By JUDITH NAMUTOWE –
ZAMBEEF Products Plc has recorded a 56 per cent rise in profit for the first half of its financial year, boosted by increased sales in its core meat business.
The company made a profit of K75 million before interest, tax, depreciation and amortisation (EBITA) in the six months to March 31, 2015, up 56 percent compared with the same period in 2014.
Zambeef chairperson Jacob Mwanza attributed the rise in earnings to strong sales of its cold chain meat and dairy products as well as continued tight control of administrative costs.
Joint chief executive officer Carl Irwin and Francis Grogan said increased focus on Zambeef’s core business, which was the processing, distribution and retailing of cold chain meat and dairy products, has seen strong growth in these business units.
Mr Grogan said, looking at beef, chicken, pork, milk, eggs and fish combined the gross profit has increased by 48 per cent . New projects being worked on include a new processing and distribution hub in Kitwe as well as wholesale depots in Solwezi, Mongu, and Lusaka.
He said that the business was strongly cash generating with net cash inflow before financing increasing by 171 percent to K61 million.
