• Fri. Apr 19th, 2024

Innscor Africa says trading continues to be ‘relatively solid’


Dec 11, 2023

By ETimes

Innscor Africa expects increased volume growth during the festive period, usually associated with growing demand for products, despite the challenging operating environment.

“I don’t really have anything further to add to the trends that we articulated in that particular release (Q1 2024),” group chief executive officer Julian Schonken told shareholders at the company’s 27th annual general meeting.

“Trading continues to be relatively solid and we are looking forward to a good Christmas trading season across all the portfolio businesses that we have.”

Analysts asked about the strategies the company is implementing to mitigate the effects of the forecasted El Nino-induced drought.

In response, Schonken said it’s something they have been thinking and planning about.

“El Nino I think it’s largely with us now and you can see that. I would say that it’s not something new for us, but we dealt with it for several years.

“If one looks at our grain operations and trading operations, we have considerable relationships with suppliers abroad and regionally, and we will be calling on those to make sure that the best pipeline of food is necessary to make sure that we have enough commodities to produce our products,” he said.

At the AGM, directors’ fees and auditors’ remuneration for the past audit were approved at US$259 934 and US$170 886 million, respectively. Also, BDO Zimbabwe Chartered Accountants were re-appointed as auditors of the company-HARARE

By ETimes

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