Interfresh profit up 610 percent


Interfresh, another horticultural company, had an excellent first half ending June with sales and net profit double that for the full year ending December. And it says it usually has better sales in the second half.

Total turnover was up 507 percent from $3.9 billion to $23.7 billion while net profit increased from $429 million to $3.1 billion. Total sales for last year were $11.6 billion with net profit at $1.6 billion.

It says volumes at Mazoe Flowers were up 5 percent with over 16 million stems exported. The company planned to export more than 40 million stems by year-end. Citrifresh Exports exported over 200 000 cartons to Europe and the Middle East.

Smithfield Flowers intends to export 650 000 stems by the end of the year pushing this to 15 million stems next year. Another flower project, Bloomfield should be on line in 18 months.

Citrus volumes from Interspan only increased by 4 percent to 625 000 cartons due to logistical problems and farm disruptions. New markets had, however, been found in Russia and the Philippines.

Transfreight’s airfreight volumes had gone up by 141 percent. Though 80 percent of Mazoe Citrus Estates remained listed for acquisition it had recorded a significant increase in fruit for juicing both for the local and export markets.

Sales for Wholesale Fruiterers and Marlon Trading had soared by 600 percent, while volumes at Interfoods increased by 28 percent.


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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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