HY21: Unusual early season demand drives performance
Food security concerns across the continent shift demand curve up
The Group registered robust revenue growth in the period under review on the back of early seed deliveries to customers in Malawi and Zambia, exports from Kenya to Rwanda and a strong demand in Nigeria. While the operating environment was unconducive for business for most entities due to the unprecedented COVID-19 pandemic, the Group’s operations in its multiple jurisdictions were not significantly impacted owing to its classification as an essential business. As a matter of fact, the pandemic drove the increase in the Group’s maize seed sales volumes and revenue as food security became a priority on the agenda of most countries, resulting in an unusually high early season demand for summer seeds.
