AGRO-INDUSTRIAL group, CFI Holdings, recorded a 73,2 percent inflation-adjusted revenue growth for the first quarter of its financial year ending December 31, 2020, on the back of firm demand during the period due to the above average rains received in the country.
In a trading update for the quarter, the company said sales volumes in the key revenue drivers for the retail business improved by 67 percent.
“Retail operations contributed 96 percent of the turnover for the quarter, whilst farming operations contributed four percent,” CFI said
“The growth is attributable to a resurgence in construction activities and the relatively good 2020/2021 rainy season.
“The improved performance is also attributable to growing demand for Agrifoods’ stock feeds after its exit from judicial management in the prior year.”
CFI expects trading conditions going into the second quarter to remain stable and largely unc
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