- Africa-focused food business Zambeef posted a rise in first-half profit as revenue grew and margins expanded.

Pre-tax profit grew to $2.8m, up from $590k, as revenue increased 4.6% to $123.8m.

Operating profit margins grew to 5.08%, up from 3.80%.

'The volatile economic conditions in Zambia over the previous two years, including sharp depreciation of the Kwacha against the US Dollar and relatively high inflation, presented challenges for the business,' chairman Jacob Mwanza said.

'I am pleased to say that this period of uncertainty appears to be behind us.'

'We are entering a period of relative stability in the economy, supported by tight fiscal and monetary control by Zambia's Ministry of Finance and the Bank of Zambia.'

At 9:26am: [LON:ZAM] Zambeef Products PLC share price was +0.4p at 11.25p

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