Seed Co Limited 2023 Interim Results For The Third Quarter

Seed Co Limited ( Q32023 Trading Update

By Published On: January 28, 2023TYPE: Interim ReportsYear: 2023Period: Q3Country: ZimbabweSector: Agricultural

Seed Co Limited ( listed on the Zimbabwe Stock Exchange under the Agricultural sector has released it’s 2023 interim results for the third quarter.

Zimbabwe’s business environment has been made increasingly difficult and uncertain due to internal socio-economic issues and global economic unrest. Challenges include energy crisis, lack of and high cost of fertilisers, loss of consumer purchasing power, and shortage of liquidity. However, volume performance has increased by 14% over the past 9 months and revenue has increased by 425% during the same period. The outlook for the business in Zimbabwe is expected to see volume growth and an increase in hard currency revenue from export growth and domestic sales in USD. Inflation, foreign exchange, and interest rate risks remain significant in Zimbabwe and throughout Africa. The Board and management remain dedicated to protecting and enhancing stakeholder value throughout the region.

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Seed Co Limited 2023 interim results for the third quarter

Company Profile

Seed Co Limited is the leading producer and marketer of certified crop seeds in Zimbabwe, supplying hybrid maize seed to commercial farmers as well as wheat, soya bean, barley, sorghum and ground nut seed. The seeds is grown from parent seeds under contract by an established network of seed producers. Innovation and pioneering breeding methods drive the Seed Company’s success; having successfully developed hybrid crop seed varieties in Zimbabwe that are recorded as the highest yielding varieties in their class. The Seed Company has a dedicated research team; producing hybrid crop seeds and non-hybrid cereals and oil crop seed varieties that are suitable and adaptable for Zimbabwe’s ecological conditions. Seed Co Limited is listed on the Zimbabwe Stock Exchange