Zambeef Products PLC Operational Update (9765R)

TIDMZAM

RNS Number : 9765R

Zambeef Products PLC

28 September 2017

28 September 2017

Zambeef Products plc

("Zambeef" or the "Group")

Operational Update

Zambeef (AIM: ZAM), the fully integrated cold chain foods producer and agribusiness with operations in Zambia, Nigeria and Ghana, provides an operational update on its winter wheat cropping harvest.

In our Trading Update of 6 September 2017, we highlighted that during the early stage of harvesting the winter wheat crop, it appeared that yields would be well below expectations (in the region of 20 per cent.) due to the adverse impact of a fungal disease known as Septoria.

We are pleased to announce that as harvesting has progressed to an advanced level, the impact of Septoria is not as widespread or extensive as originally thought, although the Company still expects yields to be lower by approximately 10 per cent. as compared to original management expectations.

In light of this, the Group now expects to report a small profit for the year to 30 September 2017.

 
 For further information, please contact: 
 
 Zambeef Products plc          Tel: +260 (0) 
                                211 369003 
 Carl Irwin, Joint Chief Executive Officer 
 Francis Grogan, Joint Chief Executive Officer 
 
 Strand Hanson Limited          Tel: +44 (0) 
                                 20 7409 3494 
 James Spinney 
 Ritchie Balmer 
 Frederick Twist 
 
 finnCap                       Tel: +44 (0) 
                                20 7220 0500 
 Emily Morris 
  Christopher Raggett 
 
 Powerscourt                   Tel: +44 (0)20 
                                7250 1446 
 Nick Dibden 
 Nick Brown 
 
 

Notes to the editors

Information on Zambeef

The Zambeef Group is one of the largest integrated cold chain food producers in Zambia, involved in the production, processing, distribution and retailing of beef, chicken, pork, milk, eggs, dairy products, fish, flour and stock feed. The Group also has large cereal row cropping operations (principally maize, soya beans and wheat), with approximately 7,971 hectares of row crops under irrigation, which are planted twice a year and a further 8,623 hectares of rain-fed/dry-land crops available for planting each year.

Further information can be found on www.zambeefplc.com

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

-Ends-

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September 28, 2017 02:00 ET (06:00 GMT)