The diversified agri-business concern said the anticipated increase in demand would come despite the economic headwinds being experienced including surges in inflation and exchange rate issues.
The
However, the CFI holdings is pinning hopes on continued engagement between the relevant authorities, industry, and business players in safeguarding the economic progress attained in 2021.
"The board is encouraged by the positive trajectory the economy is on; and hopes that the on-going collaborative dialogue between Government, industry and other stakeholders will be maintained in order to safeguard business confidence and the significant economic achievements attained since the introduction of the auction system," CFI company secretary Mr
The company has also made progress in resuscitating operations at its milling subsidiary,
This comes on the back of a 17 percent surge in sales volumes in the first quarter of the year to
Resultantly there was a corresponding growth in revenue, which closed the quarter at 65,7 percent better than the prior comparable period at
The growth in the company's volumes was also attributed to improved agriculture performance in 2021 and a surge in construction endeavours during the year.
However, the delay to the start of the 2021-22 rain season decelerated volume growth in the quarter under review.
The retail segment contributed 87 percent of the revenue a 10 percent decline from a 97 percent contribution made in the first quarter in 2020
As part of efforts to bolster the group's operations earlier this year,
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