The company, which has operations in Zambia, Nigeria and Ghana, said that trading conditions over the financial year had remained strong, with beef, pork and chicken divisions all performing well. This was attributed to a combination of higher volumes and price rises and was underpinned by a strong stockfeed division.
Zambeef’s farms contribute around 400,000MT of soya, but this year the company was able to source around 10,000MT more soya than forecast, which will be used as full fat feed inclusion. The remaining 70,000MT balance is destined for the company’s bean-crushing business, Zamanita, whose facilities are being expanded. The company said its ability to source and crush soya was a key driver of business performance, and the plant’s expansion will see an capacity double, to 100,00MT a year. However, next year is likely to see a dip in production, as the plant will be out of commission during the 10-month upgrade programme.
Francis Grogan, chief executive officer of Zambeef, said: “The last 12 months have seen Zambeef continue to grow significantly. We are delighted with the work on the edible oils plant, as this is one of the key drivers of our future growth and gives us cause to enter the next financial year with some confidence."
The integration of Mpongwe Farm has exceeded expectations and this, together with the upgrade of the Zamanita plant into a world-class edible oils operation, means Zambeef is well positioned to meet the challenge of increasing demand for food in the region. The large increase in capacity at Zamanita will provide the soya meal for our fast-growing stock feed operations and meat divisions, while also ensuring the continued successful implementation of our strategic plan.
“We will continue to make targeted investment in infrastructure and facilities while satisfying consumer demand, increasing turnover and maintaining margins.”
The firm said it was prioritising the upgrade of facilities, processes and production in order to satisfy its customer-base and increase future growth.