Crest Poultry Group exits judicial management as firm’s profitability gains traction

ZIMBABWE – CFI Holdings Limited, a diversified agribusiness company in Zimbabwe has announced that its subsidiary, the Crest Poultry Group has exited judicial management, with its food processing entity, Victoria Foods, expected to follow suit before the close of the FY2020 financial year. The two companies were placed under judicial management in September 2016, to allow for debt restructuring, re-organisation and recapitalisation of the firms. “Notwithstanding the constrained business environment, the board is pleased to advise that Crest Poultry Group exited judicial management shortly after the reporting period, in January…

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Zimbabwe’s CFI Holdings reports 243% jump in profits to US$7.29m

ZIMBABWE – CFI Holdings Limited, a diversified agribusiness company in Zimbabwe, recorded 243% increase in profit to US$7.29 million during six months ended March 31, 2019. The company which operates Agrifoods and Victoria Foods divisions in the country saw its turn over during the six months period grow 43% to US$47.2 million from US$33 million in a comparative period of the previous year. Retail operations continued to be the group’s back bone accounting for 96 percent of total turnover while farming business accounted for the remaining 4 percent, an update…

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