Summary/Outlook

H1/2017 performance characterised by a challenging economic environment. Despite this, the Group has delivered a strong operational performance:

• Volumes have increased.
• Margins in H1/2017 were down but are beginning to normalise.
• Good operational cropping performance, but sharp drop in soft commodity prices.
• Group overheads were tightly controlled.

Zambeef’s strategy will continue to be executed:

• Consistent revenue growth through expanding the retail network and addressing supply side constraints in CCFP and stock feed operations;
• Margin improvements by investing Capex in high margin parts of the business while tightly
  controlling administration costs;
• De-risking the business through reducing gearing and dollar debt and E&S/Food Safety
  strategies;
• Improving cash conversion from strong working capital control and tight control on Capex with effective managerial responsibility;
• Looking to turn assets where we are not best-in-class into cash, and redeploy the capital in higher return parts of the business.

Related downloads

2017 March HY Results Presentation.pdf
2017 March HY Financial Results (AIM).pdf
2017 March HY Financial Results (LuSE).pdf

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