Zambeef has reported FY2017 interim results which we can characterise as follows: a strong operational performance (especially in retail, cold food chain volumes and crop yields) has been offset by weaker than expected agri-commodity prices (especially soya) and a tricky economic environment in Zambia as the economy adjusts following the currency collapse late in 2015. Coupled with a few operational issues in Milk and Eggs, we are materially reducing our FY2017 expectations but our target pri
07 Jun 2017
Still not firing on all cylinders
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Still not firing on all cylinders
Zambeef Products PLC (ZAM:LON) | 5.8 0 (-4.2%) | Mkt Cap: 23.0m
- Published:
07 Jun 2017 -
Author:
Cavendish Research -
Pages:
12
Zambeef has reported FY2017 interim results which we can characterise as follows: a strong operational performance (especially in retail, cold food chain volumes and crop yields) has been offset by weaker than expected agri-commodity prices (especially soya) and a tricky economic environment in Zambia as the economy adjusts following the currency collapse late in 2015. Coupled with a few operational issues in Milk and Eggs, we are materially reducing our FY2017 expectations but our target pri