Source - SMW
Zambeef Products reported a sharp fall in annual profit owing to unfavorable exchange rates, increased costs and lower commodity prices.

Net profit in the year through September tumbled 97% to $343,000 from $14.53m in the previous year.

Turnover grew by 16.6% to $255.8m.

"Despite a record contribution from our stock feed business and strong performance from our retail and CCFP division, a sharp fall in soft commodity prices and lower than expected wheat yields severely impacted our group performance in FY2017," chairman Jacob Mwanza said.

At 8:05am: (LON:ZAM) Zambeef Products PLC share price was -0.75p at 11.63p