Zambeef Products Share Discussion Threads

[tenapen] 17/2/2012 19:40

Africa's neglected frontier looks bright

By David Stevenson

Zambeef sets the standard

Cont...

[eugene4] 12/2/2012 20:06

HVS.

If they had to use the same measures for corruption as the West use,"they" would not even exist.

Nevermind the the investigation into the corrupt practises..Just look at South Africa...bend as hell,

Regards

Eugene

[bogotatrader] 12/2/2012 19:58

Thanks hvs

[hvs] 10/2/2012 20:21

Best left alone as seems like there is someone cashing in.

Also they just got hit with a back tax.

It will still slide before it becomes a buy.

[bogotatrader] 10/2/2012 19:38

hvs.....your views on this one? access to any research on this one?

[hvs] 10/2/2012 16:04

The West is even worse when it comes to corruption.

Ask BAE and the New labour politicians. Its all in the "NATIONAL INTEREST"
and the back pocket.

Amercian Presidents buy the presidency.

[lennonsalive] 09/2/2012 16:00

African countries, corrupt governments or did Zambeef get it wrong?

[tenapen] 09/2/2012 15:58

Zambeef's case is one such case. The company's side of the story is that in June 2010, ZRA undertook an audit of Zamanita and advised that the tariff code on importation of palm oil being applied was incorrect and further advised of the correct tariff code, which attracted a higher rate of duty. Initially, the company was billed USD 11.8m for taxes owing since 2008, but this was revised upon appeal to USD 1.9m which was subsequently paid in full by May 2011. Government has however backtracked on the results of the appeal and reverted to the original assessment, says Zambeef, hence the USD 10.7m tax bill. While the move to collect what is rightfully owed to Zambia is plausible, reversing decisions that are supposedly final is not good for investor confidence.

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They can say that again :-(

[tenapen] 07/2/2012 22:06

Zambeef Wins PMR.africa Award

Zambeef has been awarded a prize by PMR.africa. This is for Zambia Leaders and Achievers Awards. Zambeef was measured amongst other companies, institutions, municipalities and government ministries using the following criteria:

Companies/institutions that have done most to enhance the economic growth and development of the country over the past 12 months,
levels of management expertise,
implementation of corporate governance,
brand awareness, and levels of innovation

The award ceremony takes place on the 5th of March,2012 at the Pamodzi hotel.

[lennonsalive] 03/2/2012 22:26

A good company with growth prospects, however the price start to fall and I sold well before today as it hit my stoploss.

I guess other knew about this and sold as well (employees of the company?).

[tenapen] 03/2/2012 19:30

I have just had a look at Zambia's online papers to see what the local take is on todays news. None as yet but reading through the papers its plain to see that this action is part of a broard sweep of past deals by the previous Government in the look out for corruption. Not a bad thing in itself and aslong as ZAM have played it by the book as you would think the Irish management would insist on, they will be OK.

A hell of a shock all the same, after a hell of a week.

On the brighter side, the Dividend is due soon :-).

[beaufort1] 03/2/2012 17:45

Couldn't agree more jonwig - very disappointing. If successful African firms are at risk of predatory raids from the "tax authorities" then how can they expect to attract the foreign investment they need. Have sold out today at 39p and I see it has dropped further since then.

[jonwig] 03/2/2012 16:22

Yup, 'fraid so.

On the face of it, a 20% downward re-rating of profits is the worst case. And the share price has already just about done that.

But the messages sent out are more serious: how much is objective law, how much is personal and crony? (Even in the UK, the tax authorities are tainted!) And how long does it drag on for? And how much will the banks be supportive of ZAM if this gets nasty?

Of course, I may be painting an over-bleak picture here, but I preferred to sell than have the hassle.

[lovaine] 03/2/2012 09:18

Zambeef Board of Directors response to Tax Demand.

[jonwig] 03/2/2012 09:17

Sorry, but my sale didn't help, obviously.

20% potentially of current year profits. And since they're living on overdraft, interest charges will rise.

[lennonsalive] 03/2/2012 08:47

Well it was coming based on the downturn of the shareprice, doesnt surprise me with these africa countries corruption or mistake?

[jonwig] 03/2/2012 08:37

A potential tax liability of USD10.7m which is being appealed against.

The trouble with these issues is that they can run and run for ages.

[tenapen] 01/2/2012 14:50

(LAST TRADE: 01 Feb 12)
2,950.00
0.00 (0.00%)
VOLUME: 1,252,719
CURRENCY:- Kwacha

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Big volume in Lusaka today :-)

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Analysis

The EV/EBITDA ratio is a relevant ratio for financial analysis. ZAMBEEF PRODUCTS PLC shows a EV/EBITDA ratio of 4.61 for the next 12 months, which is significantly lower than the median of its peer group: 13.34 according to this financial analysis ZAMBEEF PRODUCTS PLC valuation is way below its peer group's.
this ratio is significantly lower than the average of its sector (Farming & Fishing) 9.04 according to this financial analysis ZAMBEEF PRODUCTS PLC valuation is way below its sector.

ZAMBEEF PRODUCTS PLCPeer group: Ratios based on Thu, 2 Feb 2012.

[tenapen] 01/2/2012 08:10

Last price: (31 Jan 2012)

42.00 GBX
Share rise
0.00 (0%)
Volume: 1,793,587

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Big volume yesterday.

[tenapen] 12/1/2012 18:35

"Stop importing it"

That is the point of the up-date ! hello

[hvs] 12/1/2012 16:50

lol !!!!

Stick tio the beef and stop importing it.