OUR VISION To be the most accessible and affordable quality protein provider in the region. OUR STRATEGY To increase efficiency
Contents Financial Highlights Chairman’s Report Who We Are Group Structure Geographical Representation Fact Sheet How We Have P
Financial Highlights Turnover ZMK Millions Turnover US$ Millions 41.5% 2009 697, 317 7.7% 41.5% 2009 147.7 7.7 % 2008 492, 698
Financial Highlights Profit after tax ZMK Millions Profit after tax US$ Millions -58.1% 2009 15 670 -68.3% 2009 3.3 -58.1% -68.
Financial Highlights Segmental Analysis of Turnover and Operating Profits 2009 Segmental Turnover Millions 250 000 225 000 200
Segmental Analysis of Turnover and Operating Profits Zambeef Products PLC Annual Report 2009 4 Zambeef Product Range
Chariman’s Report 5 Zambeef Products PLC Annual Report 2009 Chiawa Farm
Chairman’s Report who are proud to work for Zambeef. Our employees are trained to excellence in all categories and at all level
Who We Are Group Structure ZAMBEEF PRODUCTS PLC SUBSIDIARIES Zambeef Retailing Ltd Zamleather Ltd Zampalm Ltd •9 Abattoirs •96
Group Structure Who We Are OPERATING DIVISIONS WITHIN ZAMBEEF PRODUCTS PLC BEEF CHICKEN EGGS DAIRY CROPPING STOCK FEED Zamanita
Who We Are Geographical Representation Countries to which Zambeef Products PLC has exported products Countries to which Zambeef
Geographical Representation Who We Are D.R.C TANZANIA LAKE TANGANYIKA LAKE MWERU KASAMA Northern MANSA ZAMPALM MPIKA LAKE BANGW
Who We Are Fact Sheet MILK & MILK PROCESSING BEEF & FEEDLOT •Largest meat company in Zambia slaughtering 60 000 cattle per annu
Who We Are Fact Sheet MILL AND BAKERY • State of the art wheat mill • Capacity to mill 3 000 tons of wheat per month • State of
How We Have Performed 13 Zambeef Products PLC Annual Report 2009 Zampalm
How We Have Performed Chief Executive Officer’s Report OVERVIEW This has been a difficult year for the Zambeef Products PLC Gro
How We Have Performed Chief Executive Officer’s Report to add maximum value to all primary production through further processin
How We Have Performed Chief Executive Officer’s Report FINANCIAL REVIEW The financial year saw excellent growth in turnover for
How We Have Performed Chief Executive Officer’s Report contributor to Zambeef’s gross profit although it is the 4th largest div
Chief Executive Officer’s Report Zambeef Products PLC Annual Report 2009 18 Zamleather Boots
How We Have Performed Chief Executive Officer’s Report large loss. The reasons for this are very similar to the problems encoun
How We Have Performed Chief Executive Officer’s Report place for this further expansion and so it would be a relatively cheap e
How We Have Performed Chief Executive Officer’s Report BAKING (ZAMLOAF) The bakery has continued to grow with turnover increasi
In the last year, Zamanita’s turnover increased by 101.9% from K120.0bn to K242.3bn while gross profits increased by 164.3% fro
How We Have Performed Chief Executive Officer’s Report The Board has taken the strategic decision to make the retailing operati
Chief Executive Officer’s Report Zambeef Products PLC Annual Report 2009 24
25 Environmental, Health & Safety and Social Responsibility Report How We Are Governed Zambeef Products PLC Annual Report 2009
Environmental, Health & Safety and Social Responsibility Report How We Are Governed Zambeef Products PLC Annual Report 2009 26
How We Are Governed Environmental, Health & Safety and Social Responsibility Report Zambeef’s environmental policy is aimed at
Environmental, Health & Safety and Social Responsibility Report How We Are Governed The DEG environmental plan requires Zambeef
How We Are Governed Environmental, Health & Safety and Social Responsibility Report Zambeef also continues to assist and/or sup
Zambeef Products PLC Annual Report 2009 Zamloaf Bakery Environmental, Health & Safety and Social Responsibility Report 30
31 Corporate Governance Report Zambeef Products PLC Annual Report 2009
Corporate Governance Report CORE POLICY The directors of Zambeef Products PLC are fully committed to the principles of effectiv
Who We Are Corporate Governance Report Remuneration Committee The Remuneration Committee is chaired by the Board Chairman, Dr.
Corporate Governance Report Zambeef Products PLC Annual Report 2009 34 Chiawa Farm
How We Are Governed Citizen’s Economic Empowerment Report CITIZEN OWNED COMPANY This is a company where at least fifty point on
Citizen’s Economic Empowerment Report Citizen’s Economic Empowerment is a new concept to the Zambian environment still going th
How We Are Governed Board of Directors- Biography Dr. Jacob Mwanza Board Chairman and Chairman of the Remuneration and Executiv
Board of Directors - Biography How We Are Governed John Rabb (Alternate- Mark Doron Shnaps) Non-executive Director Nationality:
Who We Are Board of Directors - Biography Carl Irwin Chief Executive Officer Nationality: Zambian Qualifications: BCom; ACA (UK
Board of Directors - Biography Dr. Aubrey Chibumba (RETIRED) Non-executive Director and member of the Audit and Remuneration Co
Financial and Shareholder Information 41 Zambeef Products PLC Annual Report 2009 Huntley Farm
Financial and Shareholder Information Income statement information Revenue Gross Profit Profit attributed to the shareholders o
Financial and Shareholder Information 30 September 2009 Approval of annual financial statements and annual compliance certifica
Financial and Shareholder Information Approval of Financial Statements The Annual Financial Statements that appear on pages 51
Financial and Shareholder Information The Directors have pleasure in presenting their report of the activities of the company a
Financial and Shareholder Information 6 MANAGEMENT Senior Management Carl Irwin Francis Grogan Yusuf Koya Philip Diedericks Die
Financial and Shareholder Information 7 DIRECTORS AND SECRETARY The directors who served during the financial year and at the d
Financial and Shareholder Information 10 GIFTS AND DONATIONS The group made donations of K258 million (2008 – K145 million) to
Financial and Shareholder Information Companies Act requires the directors to prepare financial statements for each financial y
Financial and Shareholder Information Report of the Independant Auditors We have audited the accompanying financial statements
Financial and Shareholder Information Group Consolidated Income Statement For the year ended 30 September 2009 Notes Group 2009
Financial and Shareholder Information 30 September 2009 Group Statement of Changes in Equity Share Capital K Million 115 18 26
Financial and Shareholder Information Notes 30 September 2009 Group 2009 2008 K Million K Million ASSETS Non-current asset Good
Financial and Shareholder Information 30 September 2009 Notes Company 2009 K Million ASSETS Non-current assets Property, Plant
Financial and Shareholder Information Group 2009 K Million 30 September 2009 2008 K Million 44 195 8 018 19 039 (65) (4 781) (1
Financial and Shareholder Information 1. The Company Zambeef Products PLC and its subsidiaries (“Group”) is one of the largest
Financial and Shareholder Information (ii) Interpretations to published standards that are not yet effective and have not been
Financial and Shareholder Information Depreciation is calculated to write off the cost of property, plant and equipment on a st
Financial and Shareholder Information (ii) Debtors and receivables Debtors and receivables are non-derivative financial assets
Financial and Shareholder Information If there is objective evidence that an impairment loss has been incurred on debtors and r
Financial and Shareholder Information accounted for as deferred tax. Deferred taxation assets are recognised for all deductible
Financial and Shareholder Information 3. Critical Accounting Estimates and Judgements The group makes estimates and assumptions
Financial and Shareholder Information 5. Turnover Turnover represents the value of goods invoiced to customers during the year,
Financial and Shareholder Information 7. Profit Before Taxation Profit before taxation is stated after charging: Group 2009 K M
Financial and Shareholder Information 30 September 2009 Group 2009 K Million c) Movement in taxation account: Taxation payable/
Financial and Shareholder Information 9. Earnings Per Share Group 2009 2008 37 368 270.92 Company 2009 48 783 307.38 2008 24 37
Financial and Shareholder Information 11. Property, Plant and Equipment a) Group Leasehold Land & Buildings K Million Cost or v
Financial and Shareholder Information f) Company Leasehold Land & Buildings K Million Plant & Machinery K Million 31 938 14 602
Financial and Shareholder Information 12. Investments in Subsidiaries 2009 K Million a) Movement at cost: At beginning of the y
Financial and Shareholder Information (d) In the opinion of the directors, the value of the company’s interests in the subsidia
Financial and Shareholder Information 15. Inventories Group 2009 K Million 57 844 586 55 998 5 189 20 828 1 402 141 847 2008 K
Financial and Shareholder Information 18. Cash and Cash Equivalents Group 2009 K Million Cash in hand and at bank Bank overdraf
(v) (iv) Corporate guarantee by Zambeef Products PLC in favour of Barclays Bank Zambia PLC: RTC US$10 million (Zamanita facilit
21. Interest Bearing Liabilities Group 2009 K Million Barclays Bank Zambia PLC (note (a)) DEG - Deutsde Investitious GUD Entwic
(b) DEG Term loan The company has a loan facility of US$4,583,333 from DEG. Interest on the loan is 2.75% above the six-month U
22. Obligations Under Finance Leases Group 2009 K Million ALS Capital Limited (note (a)) Freddy Hirsh Limited (note (b)) Freddy
Notes to the Financial Statements [continued] 23. Deferred Liability Under the terms of employment, employees are entitled to c
26. Financial instruments Financial assets The group’s principal financial assets are bank balances and cash and trade debtors.
29. Operating Leases The total value of future minimum annual lease payments under non-cancellable operating leases is as follo
(b) The group made the following purchases from these related parties: Group 2009 K Million Purchases from related parties: Ama
Notice is hereby given that the 15th Annual General Meeting of Zambeef Products PLC will take place at the Taj Pamodzi Hotel, a
ZAMBEEF PRODUCTS PLC Proxy Form I/We, of being a member/s of and the registered holder/s of . shares in the above named company
1. A shareholder may insert the name of a proxy or the names of two alternative proxies of his/her choice in the space provided