Agri-business concern,
"
Through its farming unit-
"Glenara harvested 2,406 tonnes of potatoes during the period. The Estate has established maize and soya bean summer crop, which should assist with underpinning raw materials supplies to
The group is hinging its growth on increased consumer spending on foodstuffs as well as farming, construction, and mining activities, despite decreasing incomes.
"Notwithstanding the challenges of high inflation levels and unstable exchange rate, the group projects that aggregate demand will continue to firm on the back of growth in consumer spending on the basic foodstuffs, farming activities, construction and mining activities," CFI said.
During the quarter under review, historical revenues grew by 161 percent to ZWL$ 4.98 billion in the current quarter from ZWL$ 1.91 billion in the comparative prior year quarter.
Of the Group's turnover, Retail contributed 87.06 percent (2020-Q1 - 96.6%) whilst Milling and Farming Operations accounted for 10.26 percent (2020 Q1-0%) and 2.68 percent (2020-Q1 - 3.4%) respectively
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