By Christian Moess Laursen
Zambia-based Zambeef Products said it expects its full-year results to beat current market forecasts, despite a challenging operating environment.
The London-listed cold-chain food producer said Tuesday that it sees reported pretax profit around 30% higher than current market expectations for the fiscal year ended Sept. 30.
Revenue, gross profit and adjusted earnings before interest, taxes, depreciation and amortization are all anticipated 5% to 15% higher than market expectations, it said.
It continued to see increasing demand for its products in the year, supported by a price moderation approach, and resulting in volume growth across most product categories.
Gross margins were pressured during the first half-year due to lower-than-expected selling price and higher input costs, which was moderated in the second half by better overall cost control, it added.
At 1410 GMT, shares are up 0.13 pence, or 1.9% , at 6.75 pence.
Write to Christian Moess Laursen at [email protected]
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