Zambeef’s H1 results are as expected following its recent interim pre-close trading update, which reassured that there had been no further deterioration in underlying full-year outlook since April’s profit warning. However, we have adjusted our full-year FX assumptions to reflect the weakening of the Kwacha versus the USD, which drives a 7.3% reduction in EPS (Dil. Adj.) to 170c from 184c for FY24E and a 7.8% reduction to 187c from 202c for FY25E. Our target price remains under review.
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21 Jun 2024
Zambeef - Interims: Drought dries up progress
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Zambeef - Interims: Drought dries up progress
Zambeef Products PLC (ZAM:LON) | 5.8 0 0.0% | Mkt Cap: 23.0m
- Published:
21 Jun 2024 -
Author:
Michael Clifton | Nigel Parson -
Pages:
11 -
Zambeef’s H1 results are as expected following its recent interim pre-close trading update, which reassured that there had been no further deterioration in underlying full-year outlook since April’s profit warning. However, we have adjusted our full-year FX assumptions to reflect the weakening of the Kwacha versus the USD, which drives a 7.3% reduction in EPS (Dil. Adj.) to 170c from 184c for FY24E and a 7.8% reduction to 187c from 202c for FY25E. Our target price remains under review.