Listed agro-industrial concern,
Presenting the group's performance for the six months ended
"The 2021 calendar year was a year of great progress for the Zimbabwean economy, with markedly reduced inflation, substantial improvements in agricultural production and significantly improved foreign currency inflows," Moyo said.
Moyo expressed hope that, moving forward in 2022, all stakeholders will be able to find a solution to the inflationary upsurge pushing up consumer demand which has stalled in recent months.
"From a
During the review period, volumes increased by 15% to 304,000 tons compared to the prior period.
There was, however, a noticeable slow-down in volume momentum over the period as inflation picked up, with year on year volume growth of 24% in the first quarter and only 8% in the second quarter.
"Revenue for the period increased by 96% to
Volumes for most products recorded significant increases with the flour unit increasing by 3% compared to the same period last year while the snacks division grew by 49%.
As anticipated demand for maize meal was subdued following last year's excellent harvest, and volumes declined by 7% compared to last year with stock feed volumes improved by 16% when compared to prior year.
"The Board is therefore pleased to declare an interim dividend of
"This interim dividend is in respect of the financial year ending
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