Rutendo Mazhindu- Zim Now Reporter
Agro-industrial conglomerate CFI Holdings Limited recorded a 9.9 percent increase in inflation-adjusted revenue for the third quarter ended June 30, 2025, reaching ZWG$675 million, up from ZWG$614.15 million in the same period last year.
Acting Group Chief Executive Officer Norman Chibanguza attributed the growth to a rebound in the agricultural sector following a normal to above-average 2024/2025 rainfall season, which boosted demand for agro-inputs.
“The tobacco marketing season recorded a historic all-time high of 300 million kilogrammes sold, which significantly boosted our Farm and City Centre and Agrifoods units,” he said.
Farm and City Centre sales volumes rose by 9 percent compared to the prior year, supported by strong supplier partnerships and product diversification strategies. Agrifoods registered a 13.9 percent growth in sales volumes on the back of improved aggregate demand in the feed sector.
However, Victoria Foods posted a 3 percent decline in volumes due to grain shortages caused by last year’s drought and delayed maize harvesting.
Glenara Estates began its summer crop harvest during the quarter, with potato prices rising 7.4 percent compared to last year, driven by strong market demand. The estate also maintained steady cattle breeding and pen fattening operations through joint ventures.
Mr Chibanguza noted that the group continues to face competition from the growing dominance of informal retailers who operate outside statutory obligations.
“These largely unregulated players reduce their operating costs, creating additional pressure on margins and customer retention,” he said.
Company Secretary Peter Hare said CFI expects economic conditions in the final quarter to remain challenging due to liquidity constraints and reduced aggregate demand.
“Ongoing cost containment measures will be implemented to safeguard value,” he said.
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