SoFi CEO enters prepaid forward contract on 1.5 million shares
LUSAKA - Zambeef Products Plc announced a 43% decline in Total (EPA:TTEF) Basic Earnings per Share for the half year ended March 31, 2025, compared to the same period in 2024, according to a statement released by the company.
The Zambian food products and agribusiness company attributed the earnings decline primarily to increased financing costs driven by higher debt levels and an escalation in the monetary policy rate, as well as higher income tax charges. These factors offset growth in operating profit during the period.
The company’s operating profit improvement was driven by enhanced performance in its cropping division during the first quarter and beef operations in the second quarter.
Zambeef noted that while inflationary pressures necessitated price adjustments across most product categories, the company was unable to fully pass rising input costs to consumers, resulting in margin compression in some segments.
The company expects macroeconomic challenges to continue in the second half of the financial year, though inflation is projected to stabilize. A forecast bumper harvest and improved summer crop yields are anticipated to enhance profitability in the Cropping division.
The company also highlighted that disease outbreaks remain an ongoing risk within its livestock divisions, with potential material impact on profitability.
Zambeef, which operates 250 retail outlets throughout Zambia and West Africa, expects to release its results for the half year by the end of June 2025.
The information was disclosed in a trading statement issued through the Lusaka Securities Exchange.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.