DAIRIBORD Holdings says its business demonstrated steady volume growth month-on-month in the first quarter, ending at 14 percent compared to last year.
In a trading update for the period ended March 31, 2023, Dairibord said the performance was driven by a sustained increase in production and improved distribution across the country. This comes as the company applauded a reduction in ZWL interest rates announced by the central bank during the quarter, saying it had a positive impact on interest costs.
“However, there was significant pressure from the devaluation of the ZWL vs US$ on the financing and operating costs,” the company said.
“On aggregate, performance for the quarter was a good start for the year and the business will drive for growth for the rest of the year.”