Stabilising macro dynamics support National Foods FY-20 Q3 Volumes

Author Name
Rugare Mukanganga
Author
Stock Market 1 month ago

Following improvements to rainfall patterns, subdued inflation and a stabilising operating environment, Zimbabwe’s largest food manufacturer experienced volume growth across most major units.

 

Production Unit  % Growth/Decline
Overall 🏭 14.2 ↗️
Maize 🌽 (31) ⬇️
Stockfeeds 🐖 27 ↗️
Groceries 🍞 95 ⬆️
Snacks & Treats 🍭 44 ↗️

Volume changes were reported on a YTD basis and compared with the Group’s prior year Q3.

The Group’s Maize volumes were lower both on a YTD and in comparison with prior year Q3, seeing 41% and 31% declines respectively.

Overall YTD volumes were however up 100.8k tonnes. Excluding the underperformer Maize, volumes were up 47.2%.

Looking at the just ended financial quarter, Group volumes slightly improved by 2.4% YTD and 35% on prior year Q3 when Maize is excluded.

At unit level, YTD flour volumes were 46% up and 28% from prior year Q3.

YTD stockfeed volumes also improved on a YTD basis, rising 27%. Compared to the previous year’s Q3, volumes grew but at a relatively lower 15%.

Coming in from a year of shifts in consumer spending habits, YTD grocery volumes surged 95% and 88% compared to FY-19 Q3.

Lastly, the Snacks & Treats unit saw a 44% YTD volume growth and 27% up on comparative quarter basis.


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