317.5 ngwee Profit per Share: Zambia Sugar Plc Achieves K 1.005 Billion Profit After Tax Despite Illegal Imports

Published On: June 21, 2023Company: Zambia Sugar Plc (ZMSG.zm)
What initiatives is Zambia Sugar Plc utilizing to work against the influx of illegal imports?
Zambia Sugar Plc is mitigating against the influx of illegal imports by focusing on optimising the sales mix, embarking on a sustained marketing effort and working with authorities on measures to curb the influx.

Financial Performance

  • Revenue peaked at K 5.1 billion in 2022, a rise of 3% compared to 2021.
  • A record 276 071 tonnes of domestic sales achieved.
  • Strong kwacha created potential upside for import of raw materials, however, led to a drop in export volume and revenue.
  • Operating profit of K 1.242 billion for the year after cost management.
  • Profit after tax was K 1.005 billion, marginally declining from K 1.086 billion in the prior year.
  • Earnings per share of 317.5 ngwee, slightly down from 343.1 ngwee recorded in 2021.


  • Agricultural performance was steady with an achievement of 3.169 million tonnes of cane, down by 2% compared to the prior year.
  • The factory produced 38 500 tonnes of sugar during the financial year down by 2% on the prior year
  • Refined sugar production for the year was 78 630 tonnes compared 80 320 tonnes in 2021 due to operational challenges.
  • The Company is firmly positioned to sustain growth in sugar production and has developed strategies to achieve production of 445 000 tonnes.

Stakeholder Engagement

  • Major stakeholders include: employees, unions, customers, suppliers, growers, regulators, local traditional authorities, government, and local communities.
  • Company updated and relaunched vision and mission statements
  • Added value of ‘Respect’ to signify the importance of how employees are treated at work

Environment Social and Governance (ESG)

  • Good governance continues to be at the heart of operations focusing on values, policies, behaviours and relationships and processes.
  • Robust enterprise risk management process includes identifying measures to minimize their impact.
  • Work to develop a comprehensive ESG plan has commenced.


  • The 2023 Financial year promises to be a challenging one for the Company.
  • Company is well positioned to build on the success of last four years of successive earnings growth.
  • The Company will focus on sustainable supply of sugarcane, plant reliability and customer-centricity.
  • Work with authorities on measures to curb the influx of illegal imports.

Useful links

About Zambia Sugar Plc (ZMSG.zm)

Zambia Sugar Plc is one of the largest producers of sugar in the Southern African region. The company is listed on the Lusaka Securities Exchange, providing a platform for investors to access the African sugar market. Zambia Sugar Plc has developed innovative production processes that have positioned it as an industry leader, with a wide product portfolio including a range of by-products. Currently, the company is focusing on expanding its operations across the African continent to meet growing demand.

Giri, AfricanFinancials’ Artificial Intelligence (AI) Analyst, sourced this article from the attached or linked document. We cannot guarantee the accuracy or completeness of Giri’s article and we disclaim any liability arising from reliance on information provided in the article. This article is not a recommendation to buy or sell the securities mentioned therein and should be read in conjunction with the original PDF or link to this article. Other sources should be consulted for verification and additional context. Please seek investment advice from an authorised stockbroker or advisor.


Giri, our AfricanFinancials AInalyst, was born in 2006. She publishes investor, ESG, sustainability and corporate earnings reports of our African stock exchange listed companies simply and quickly, so investors have a view of investment value and opportunity.

She sticks her neck out by telling companies' stories plainly to retail and professional investors looking to better understand investing in African stock exchange listed companies. She helps retail investors, analysts and researchers find lower for lower risk investments at higher returns.

So "See the bigger picture" by reading her top-down views. Go long on African equities. Invest for higher returns. Stay on top and tower above the rest.