National Foods reports 14% growth in volume despite being derailed by poor performance in maize category

ZIMBABWE – National Foods Holdings Limited, Zimbabwe’s listed agri-industrial concern has reported a 14.2% rise in volumes to 395 000 tonnes for the nine months to March 31, 2021, compared to the same period the previous year. However, excluding the maize category, growth is pegged at 47%. Meanwhile, for the third quarter volumes decreased by 2.4% to 131 000 tonnes but increased by 35 percent when excluding maize. “The maize division has had a difficult year. This has largely been due to the substantial volumes of maize meal imports from…

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Zimbabwe’s National Foods reports 25% rise in volume on back of reduced inflation

ZIMBABWE – National Foods, one of Zimbabwe’s largest food manufacturer has reported a 766% rise in half year revenue to ZWL 12.682 billion (US$35m) in historical terms, for the period ended December 2020. According to the company, the period saw a significant stabilisation in the economic environment, mainly brought about by reduced inflation following the introduction of the foreign currency auction. Volumes for the period increased by 25% to 264,000 tons compared to the prior period, reflective of the company’s pricing strategy as well as the improved consumer purchasing ability…

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