HARARE – Mealie Brand, a division of diversified construction, infrastructure and agricultural equipment manufacturer and distributor, Zimplow Holdings Limited has been named as the 2020 exporter of the year in the agriculture implements division.
Mealie Brand which is one of the largest manufacturers and distributors of farming implements in sub-Saharan Africa won the distinct award at the recently held ZimTrade exporters awards sponsored by Ecobank Zimbabwe.
The awards which feature the country’s top exporting companies honours their contribution to national exports, a key area amidst the country’s drive to achieve sustainable economic growth. In addition, the awards also recognise the efforts made by companies in growing their exports in an environmentally sustainable manner as well as the Corporate Social Responsibilities efforts.
This year’s awards were running under the theme, “Adapt, Innovate, Export.”
The recognition serves as the icing on the cake for Zimplow which has been posting stellar financial and operational performances in the previous fiscal periods.
Most recently, the Group reported a solid earnings performance for the half-year ended 30 June 2021 as all business units, including Mealie Brand recorded growth.
During that period, Mealie Brand recorded volumes growth in both local and export sales with local and export implements volumes at 147% and 69% respectively ahead of prior year pushing revenue growth by 161% in real terms.
In terms of profitability, the unit registered a growth of 748% in real terms.
Overall, the Group saw a 67% revenue growth to ZWL1.66 billion from ZWL0.991 billion recorded in the first half of fiscal 2020.
The Group is focused on further enhancing its market share, with part of the strategy being the acquisition of new business lines as it seeks to reach new markets and customers.
The Group managed to complete the acquisition of Scanlink and Tredcor Zimbabwe as 100% subsidiaries in July 2021.
Some of the agricultural equipment manufactured under the Mealie Brand division include Ox drawn rippers, ploughs, harrows, high wing ridger, groundnut sheller, direct seeder, cultivators and hand planters.
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