AGRO-industrial firm CFI Holdings (CFI) says its margins remain under immense pressure due to unfavorable pricing on the formal retail space compounded by higher prices for raw materials.
Government regulations for players in the formal sector to adhere to a heavily discounted official exchange rate hemorrhaged the group’s earnings.
In its first quarter ended December 31, 2024 trading update, the group said despite a 18 percent growth in revenue, driven by improved sales volumes at its two key subsidiaries, Farm & City Center and Agrifoods.