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Zambeef Products (ZAM)

Business description

Zambeef Products is a producer, processor, distributor and retailer of beef, pork, chicken, eggs, milk, dairy products, edible oils, stock feed, flour and bread. It also carries out row cropping, leather and shoe manufacture.

External factors in H114 obscure progress

Update | Food & Drink | 15/12/2014

Zambeef continues to make progress towards becoming one of the largest food producers focusing on sub-Saharan Africa rather than only Zambia. This progress was slowed down by several adverse externally-driven effects that blighted H114 performance, resulting in a small pre-tax loss (after adjusting for unrealised forex losses) for the full year. Noting improved H2 profitability as the adverse effects have passed, we expect a return to pre-tax profit in FY15, although at lower levels than our previous estimates. We retain our valuation range of 17-37p.

Tagged: Food & drink

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Stock data

Market cap.£34.9m
Last close11.630p
High / Low (52 weeks)19.6p / 10.4p
Stock market listingLN
Forecast net debt (US$m)80.7
Forecast gearing ratio (%)N/A
TeamConsumer
SectorFood & Drink

Price performance

%1m3m12m
Actual8.1(16.2)(32.1)
Relative *6.3(18.8)(37)

* % Relative to local index

Company news