HARARE, August 13 (The Source) – Zimbabwe’s largest dairy processor, Dairibord Holdings, says it will import 500 heifers this year to help increase raw milk supplies which remain depressed.
Dairibord chairman Leonard Tsumba said in a statement accompanying the company’s financial results on Thursday that the heifer importation programme had helped increase the group’s milk intake by eight percent.
“The gap between supply and demand of raw milk in Zimbabwe remains significant. In the circumstances the group’s heifer procurement programme will remain a priority. To this end a target of 500 heifers for the 2015 financial year has been set,” Tsumba said.
The group’s total raw milk intake increased by two percent compared to the same period last year with intake for Dairibord Zimbabwe increasing by six percent while Dairibord Malawi recorded a 19 percent decline.
Dairibord Holdings is the parent company of Dairibord Zimbabwe (DZPL), Dairibord Malawi (DML), Lyons and NFB Logistics.
The group’s revenue in the six months to June was up 10 percent to $47,9 million with an operating profit of $848,000 being achieved compared to a loss of $627,000 in 2014.
Sales volumes for the period increased by 25 percent to 37.4 million litres, driven by beverages which were 63 percent above prior year.
The Malawi business unit reported an operating profit of $35 000 from a loss of $402 000 last year.
Cash generated from operations improved from $262 000 in 2014 to $1,7 million during the period under review.