Tanganda Tea Company Limited 2023 Interim Results For The First Quarter

Tanganda Tea Company Limited (TANG.zw) Q12023 Interim Report

By Published On: February 13, 2023TYPE: Interim ReportsYear: 2023Period: Q1Country: ZimbabweSector: Agricultural

Tanganda Tea Company Limited (TANG.zw) listed on the Zimbabwe Stock Exchange under the Agriculture sector has released it’s 2023 interim results for the first quarter.

For more information about Tanganda Tea Company Limited (TANG.zw) reports, abridged reports, interim earnings results and earnings presentations visit the Tanganda Tea Company Limited (TANG.zw) company page on AfricanFinancials.

Indicative Share Trading Liquidity

The total indicative share trading liquidity for Tanganda Tea Company Limited (TANG.zw) in the past 12 months, as of 5th February 2023, is US$4.71M (ZWL2B). An average of US$392.78K (ZWL166.71M) per month.

Tanganda Tea Company Limited 2023 interim results for the first quarter

Company Profile

Tanganda is the largest producer, packer and distributor of tea in Zimbabwe. The first commercial tea was planted at New Year’s Gift Estate in 1924. Tanganda, to date has also developed the largest hectarage of both macadamia nuts and avocados to become the single largest producer of both crops in Zimbabwe. The Company is also involved in coffee production and spring water bottling. The Company is divided into three operating divisions, the Agriculture, the Beverage and the Corporate and Administration Divisions. The Agriculture Division is based in Chipinge and consists of five estates inter-cropped with tea, coffee, avocados and macadamia nuts. The Division has an active out-grower scheme supporting tea farmers covering about 1,000 hectares of land. The Beverage Division is focused on creating and developing brands mainly from but not limited to the primary agricultural products and consists of a blending and packaging plant in Mutare with sales and distribution depots in Harare, Bulawayo, Gweru and Mutare. The division’s market is mainly local but has a growing export market into the region. New consumer products and services development is a key focus for the Division. The Corporate and Administration Division is responsible for administration and support services for the Agriculture and Beverage Divisions.