ZAFFICO’s profits double
Published On September 30, 2024 » 983 Views» By Times Reporter » Latest News
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By CHATULA KANGALI –
THE Zambia Forestry and Forest Industries Corporation (ZAFFICO) PLC profits have doubled in the half year ending June this year due to the fair gain in its biological assets.
The corporation reported a profit after tax of K 377.6million, compared to K 137.5 million for the same period in 2023.
This is according to the abridged financials for the half year ending June 30 this year posted by the Lusaka Securities Exchange Commission (LuSE).
ZAFFICO attributed the increase in profit to the larger gain in the fair value of biological assets as compared to last year.
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