The Sunday News
HARARE — Dairibord Holdings is eyeing to grow the contribution of export markets to five percent of turnover as the company makes inroads into Mozambique.
The company’s chief executive Mr Anthony Mandiwanza said the group’s Malawi unit had recorded an improved performance in the first quarter despite a $351 000 loss last year due to high production costs and an erratic rainfall season. He said the group was now selling its products including Cascade, tea, peanut butter, steri milk and maheu, in Mozambique and Zambia.
“We have now turned round the corner and it is trending in the right direction. We believe that recovery will continue in the first half. There are strong solid exports which are consistent now moving into Zambia. Those markets are expanding the space of doing business,” said Mr Mandiwanza.
He said the company had made inroads into Mozambique and hoped to increase sales of maheu and steri-milk in that country.
The group recorded a 22 percent growth in volumes, while revenues went up six percent for the first quarter to April 2015, compared to the same period last year.
Management attributed the growth in revenue to a 64 percent increase in beverages volumes. Operating profit for the period was up one percent from minus two percent. — BH24
