Rising costs squeeze Dairibord’s profit margins Rising costs squeeze Dairibord’s profit margins
Anthony Mandiwanza
Dairibord Holdings Limited chief executive officer Anthony Mandiwanza, says cost reduction will remain a fundamental issue to protect the company’s margins for the 2021 financial year.
The first five months of the year, saw the Zimbabwe Stock Exchange listed entity grapple with increasing cost of doing business.
Overall, costs for the five months to May 31, 2021 increased by 452 percent, leaving the group with an operating profit margin of just 7 percent, Mandiwanza said in a trading update at the company’s Annual General Meeting held on Wednesday.