Zambeef Products plc Announces Unaudited Consolidated Earnings Results for the Six Month Ended March 31, 2016; Reaffirms Earnings Guidance for Fiscal 2016
June 08, 2016 at 11:42 am IST
Zambeef Products Plc announced unaudited consolidated earnings results for the six month ended March 31, 2016. For the six months, the company reported revenue of USD 98,820,000 against USD 102,138,000 a year ago. Operating profit was USD 13,683,000 against USD 7,957,000 a year ago. Profit before taxation was USD 9,740,000 against loss of USD 3,789,000 a year ago. Group profit for the period from continued operations was USD 8,962,000 against loss of USD 4,384,000 a year ago. Group profit attributable to equity holders of the parent were USD 7,955,000 against loss of USD 3,780,000 a year ago. Basic and diluted earnings per share from continued operations were 3.21 cents against loss of 1.94 cents a year ago. Net cash inflow from operating activities was USD 7,740,000 against USD 26,036,000 a year ago. Purchase of property, plant and equipment was USD 6,831,000 against USD 18,425,000 a year ago. Expenditure on plantation development was USD 574,000 against USD 1,402,000 a year ago. EBITDA was USD 15.45 million against USD 11.64 million a year ago. Adjusted profit before tax was USD 8.44 million against USD 0.31 million a year ago.
With the strong focus on the retailing operations, the company is confident that this robust performance will continue, demonstrating the resilience of the Group's business model. As a consequence of this strong operational performance, the Board is confident of meeting full year expectations for fiscal 2016.