Good rains boost Ariston

July 21, 2021




Listed agro-industrial concern, Ariston Holdings has reported improved yield in the third quarter to June 30,2021, owing to favourable weather conditions, Business Times can report.

Ariston company secretary, Rufaro Chinamo, said most crop categories performed well during the 2020/2021 summer cropping season.

Revenue for the group increased 3% in the nine months to June 30, 2021. The group’s revenue remained predominantly foreign currency dominated.

“Favourable weather conditions in the current period, resulted in improved yields in both dryland and irrigated crops,” Chinamo said.

She added: “…Due to an  expectation of good weather conditions, dryland cropping area was extended, also adding to the improved production volumes.”

Chinamo said tea production had a slight increase while macadamia  volumes jumped 18% due to a good farming season.

The fruit category which comprises stone fruit and pome fruit improved in terms of volumes due to young orchards improving yields.

Poultry is grown on an outgrower model for the largest poultry producer in Zimbabwe and in the current period, the producer  increased  the number of placements thus resulting in higher production volumes, Chinamo said.

She said the other products which consist of potatoes, bananas, commercial maize, seed maize, soya beans, sugar beans and sweet potatoes also performed well.

Tea sales registered an increase which was mainly driven by local market demand.

There was a 12% decrease in macadamia nuts sales arising from harvesting and production processes having commenced later than during the prior period.

Chinamo said the stone fruit sales were impacted by lockdown but the current period sales of the fruit category improved due to an increase in pome fruit sales.

This resulted  in a disproportionately larger volume of stone  fruit being sold to processors at reduced prices.

The sales of poultry and other products are in line with both the prior periods and the production volumes.

Ariston sold its export crops ex-farm gate, reduced availability of containers for outward storage and logistics channels being affected  by Covid-19 has resulted in slow movements of  the produce from the farm.

The group was classified as an essential service during the lockdown and continued to operate.

The group said it was bullish that  all stocks are still on  hand  and will be sold  by year end.

The group said the preparations of the coming summer cropping season are taking shape.

All the company’s factories will be completely shut down to enable repair.


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