Zambia-based Zambeef Products has announced that it anticipates its full-year results to surpass current market forecasts, despite operating in a challenging environment.
Impressive Profit Growth
The London-listed cold-chain food producer expects to report a pretax profit that is approximately 30% higher than the current market expectations for the fiscal year ending on September 30.
Positive Performance Across Key Metrics
Zambeef Products also projects that its revenue, gross profit, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) will exceed market expectations by a range of 5% to 15%.
Strong Demand and Volume Growth
The company has experienced growing demand for its products throughout the year. This can be attributed to its strategic approach of moderating prices, resulting in increased volume across various product categories.
Mixed Gross Margins but Improved Cost Control
During the first half of the year, Zambeef Products faced challenges with lower-than-expected selling prices and higher input costs, which put pressure on gross margins. However, in the second half of the fiscal year, the company successfully improved overall cost control, mitigating these challenges.
Shares of Zambeef Products have risen by 1.9%, or 0.13 pence, to reach 6.75 pence as of 1410 GMT.
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