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Major financial growth predicted for Zambeef

By Nicholas Robinson , 19-Nov-2012

One of the largest Zambian agri-businesses will publish its full year 2012 results later this month, showing growth of more than 100%.

Zambeef’s results will be published on 27 November and follow the company’s positive pre-close trading statement.

Equity researcher in consumer staples at Panmure Damian McNeela explained that Panmure predicted profits of US$15.9m for Zambeef, indicating a full year 2012 growth of 127%. McNeela said: “We forecast 19% revenue growth to US$245.3m driven by increased demand for Zambeef’s major proteins, such as beef, chicken and pork. We forecast adjusted PBT will rise from US$7m to US$15.9m in FY 2012E driven predominantly by the full year impact of the Mpongwe farm acquisition.”