Zambeef reports strong profits despite economic challenges

Zambeef product (GB:CLOSE) has released an update.

Zambeef Products PLC reported a significant profit increase of 233% in Zambian kwacha and 143% in US dollar terms for the financial half-year ended March 31, 2024 compared to the same period last year, despite challenging economic conditions and the worst drought on record. The company attributes these results to its vertically integrated model and strategic pricing initiatives across its divisions, which have demonstrated resilience to rising costs and macroeconomic pressures. Zambeef remains optimistic about Zambia’s future economic stability thanks to improved investor confidence following its debt restructuring with international bondholders.

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