This comes as the group expects marked volume growth, which should drive foreign currency-denominated sales volumes in the next financial year going ahead.
"In
On a regional level, Mr Chatiza indicated a mixed volume performance was predicted, with growth forecast in some regions of
In terms of volume performance, volume increased by 14 percent over the past nine months compared to the same period prior year, and by 46 percent compared to the same quarter prior year, helped by ample stocks, exports, record local sales of wheat and soyabeans as well as favourable rainfall projections towards the start of the main planting season.
The positive volume performance was achieved despite a challenging business environment, global shocks caused by the conflict in
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"Some of the major challenges the business is dealing with include the ongoing energy crisis, the lack of and high cost of fertilisers and agrochemicals, the loss in consumer purchasing power, and the shortage of liquidity in both local and hard currency.
"Positively, value was maintained in real terms during the business's peak period of revenue generation because of the stability of the exchange rate and the increase in hard currency sales in
In line with volume growth and the evolution of the exchange rates, revenue increased by 516 percent for the quarter and 425 percent during the 9 months compared to the same period prior year in historical cost terms.
Revenue in inflation-adjusted terms grew by 12 percent compared to the same 9 months' period prior year, and by 14 percent compared to the same quarter prior year reflecting the volume rise.
Going forward the environment remains uncertain due to various factors which may pose challenges for the group as it nears its year end -
Mr Chatiza said: "Inflation, foreign exchange, and interest rate risks remain significant in
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