Zambeef Products plc
(“Zambeef” or the “Group”)
Zambeef (AIM: ZAM), the fully integrated cold chain foods producer and agribusiness with operations in Zambia, Nigeria and Ghana, provides an operational update on its winter wheat cropping harvest.
In our Trading Update of 6 September 2017, we highlighted that during the early stage of harvesting the winter wheat crop, it appeared that yields would be well below expectations (in the region of 20 per cent.) due to the adverse impact of a fungal disease known as Septoria.
We are pleased to announce that as harvesting has progressed to an advanced level, the impact of Septoria is not as widespread or extensive as originally thought, although the Company still expects yields to be lower by approximately 10 per cent. as compared to original management expectations.
In light of this, the Group now expects to report a small profit for the year to 30 September 2017.
For further information, please contact:
|Zambeef Products plc
Carl Irwin, Joint Chief Executive Officer
Francis Grogan, Joint Chief Executive Officer
|Tel: +260 (0) 211 369003
|Strand Hanson Limited
|Tel: +44 (0) 20 7409 3494
|Tel: +44 (0) 20 7220 0500
|Tel: +44 (0) 20 7250 1446
Notes to the editors
Information on Zambeef
The Zambeef Group is one of the largest integrated cold chain food producers in Zambia, involved in the production, processing, distribution and retailing of beef, chicken, pork, milk, eggs, dairy products, fish, flour and stock feed. The Group also has large cereal row cropping operations (principally maize, soya beans and wheat), with approximately 7,971 hectares of row crops under irrigation, which are planted twice a year and a further 8,623 hectares of rain-fed/dry-land crops available for planting each year.
Further information can be found on www.zambeefplc.com
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”).
2017-09-28 – Operational Update (Septoria Impact) (AIM).pdf
2017-09-28 – Operational Update Zambeef Sept 2017 (LuSE).pdf