NANGA FARMS CENTER PIVOT In this video we show how the center Pivot is used in irrigation, During sugar planting.
Zambia Sugar: A Zambian Success Story Showreel 2023 Zambia Sugar: A Zambian Success Story Showreel 2023
Unveiling our Half-Year Performance at Zambia Sugar ππΎ Financial Summary:
Total revenue for the six-month period to 28 February 2023 increased by 5% to K2.35 billion due to strong domestic and export sales, with export sales growing by 16%.
Operating profit rose ...
Total revenue for the six-month period to 28 February 2023 increased by 5% to K2.35 billion due to strong domestic and export sales, with export sales growing by 16%.
Operating profit rose ...
NANGA FARMS CENTER PIVOT
In this video we show how the center Pivot is used in irrigation, During sugar planting.
Zambia Sugar: A Zambian Success Story Showreel 2023
Zambia Sugar: A Zambian Success Story Showreel 2023
Unveiling our Half-Year Performance at Zambia Sugar ππΎ
Financial Summary:
Total revenue for the six-month period to 28 February 2023 increased by 5% to K2.35 billion due to strong domestic and export sales, with export sales growing by 16%.
Operating profit rose by 2% to K655 million, despite a significant rise in the cost of key inputs, resulting in an overall 11% cost increase.
Finance costs went up by 4% due to higher facility utilisation, while the gearing ratio improved from 15% to 13%.
Headline earnings increased to K510 million, up from K439 million, and earnings per share grew by 16%.
Business Summary:
Cane supply rose by 18% due to improved yields, enabling the company to supply 3.359 million tons in the 2022/23 season.
This led to an 11% increase in sugar production, totalling 400,431 tons for the 2022/23 season.
Despite initial pressure from illegal imports, domestic sales recovered strongly, and regional export sales also increased.
Future Outlook:
The company anticipates challenges in the second half of the year due to economic uncertainties, fluctuating exchange rates, and rising commodity costs.
Sugar production for the 2023/24 season is expected to increase following good rainfall and improved factory performance.
Domestic sales are expected to continue to grow, and strong regional export demand is predicted to persist.
Dividend Announcement:
The board has not declared an interim dividend for the half-year period, prioritising financing operational requirements instead.
Total revenue for the six-month period to 28 February 2023 increased by 5% to K2.35 billion due to strong domestic and export sales, with export sales growing by 16%.
Operating profit rose by 2% to K655 million, despite a significant rise in the cost of key inputs, resulting in an overall 11% cost increase.
Finance costs went up by 4% due to higher facility utilisation, while the gearing ratio improved from 15% to 13%.
Headline earnings increased to K510 million, up from K439 million, and earnings per share grew by 16%.
Business Summary:
Cane supply rose by 18% due to improved yields, enabling the company to supply 3.359 million tons in the 2022/23 season.
This led to an 11% increase in sugar production, totalling 400,431 tons for the 2022/23 season.
Despite initial pressure from illegal imports, domestic sales recovered strongly, and regional export sales also increased.
Future Outlook:
The company anticipates challenges in the second half of the year due to economic uncertainties, fluctuating exchange rates, and rising commodity costs.
Sugar production for the 2023/24 season is expected to increase following good rainfall and improved factory performance.
Domestic sales are expected to continue to grow, and strong regional export demand is predicted to persist.
Dividend Announcement:
The board has not declared an interim dividend for the half-year period, prioritising financing operational requirements instead.