HARARE – National Foods profit for the year retreated significantly on account of high production costs and a disappointing performance in the Maize unit which suffered stiff competition from cheap maize meal imports from South Africa The scrapping of the government subsidy scheme compounded matters for National Foods in this segment, and resultantly, overall volumes in the Maize unit declined by 32 % But this was not enough to offset gains from positive consumer demand and improving market presence across the Group’s product portfolio which posted a 48 % volume increase across all categories excluding maize.citrulline vs viagra
In its full year results, operating expenditure increased by 327% as costs normalized in real terms with the easing of inflation Interest costs increased by 564% to ZW$ 389 million as the interest rates on local borrowings increased significantly
Revenue grew 26 % to $ 33.18 billion from $ 26.43 billion on the back of increased volumes of 15 percent to 525 000 tons Subsequently, the Group posted a 15 percent decline in inflation adjusted profit before tax of $ 470 550 from $ 3.شرح لعبة بوكر037 million All of the Group’s categories except maize and pure oil registered volume growth Stockfeed volumes improved by 33% driven by growth in the poultry category, where volumes increased by 53% relative to last year despite a 14 % decline Beef feed volumes due to a general reduction in cattle feeding
Volumes in this Division increased significantly by 74% on the back of competitive pricing Snacks and Treats, Cereals and Flour units increased volumes on account of improved market demand
Source: The Anchor
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Source: Theanchor
