Operational Update

RNS Number : 9765R

Zambeef Products PLC

28 September 2017

 

                                                                                                               28 September 2017                                           

Zambeef Products plc

("Zambeef" or the "Group")

Operational Update

Zambeef (AIM: ZAM), the fully integrated cold chain foods producer and agribusiness with operations in Zambia, Nigeria and Ghana, provides an operational update on its winter wheat cropping harvest.

In our Trading Update of 6 September 2017, we highlighted that during the early stage of harvesting the winter wheat crop, it appeared that yields would be well below expectations (in the region of 20 per cent.) due to the adverse impact of a fungal disease known as Septoria.

We are pleased to announce that as harvesting has progressed to an advanced level, the impact of Septoria is not as widespread or extensive as originally thought, although the Company still expects yields to be lower by approximately 10 per cent. as compared to original management expectations.

In light of this, the Group now expects to report a small profit for the year to 30 September 2017.

For further information, please contact:
Zambeef Products plc	Tel: [phone]
Carl Irwin, Joint Chief Executive Officer
Francis Grogan, Joint Chief Executive Officer
Strand Hanson Limited	Tel: [phone]
James Spinney
Ritchie Balmer
Frederick Twist
finnCap	Tel: [phone]
Emily Morris Christopher Raggett
Powerscourt	Tel: [phone]
Nick Dibden
Nick Brown

Notes to the editors

Information on Zambeef

The Zambeef Group is one of the largest integrated cold chain food producers in Zambia, involved in the production, processing, distribution and retailing of beef, chicken, pork, milk, eggs, dairy products, fish, flour and stock feed. The Group also has large cereal row cropping operations (principally maize, soya beans and wheat), with approximately 7,971 hectares of row crops under irrigation, which are planted twice a year and a further 8,623 hectares of rain-fed/dry-land crops available for planting each year.

Further information can be found on www.zambeefplc.com

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

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