THE Cotton Company of Zimbabwe (Cottco) is expecting to break even in its financial performance for the year ended March 31, 2024 in US dollar terms buoyed by the improved cost management.
In a trading update for the quarter ended January 31, 2024, the company said it settled US$19,6 million, and $7,2 billion of the farmer payments dues with outstanding dues expected to be cleared from product receipts by March 31, 2024.
The company said the final intake figures for the 2023 cotton buying season stood at 69 419 metric tonnes (mt), a 48 percent increase from the 46 748 mt achieved in the prior year.