By BUUMBA CHIMBULUTHE Zambia Forestry and Forest Industries Corporation Plc (ZAFFICO) has recorded a reduction in revenue of K90.053 million for the first six months ending in June this year.Revenue for the current period were lower at K99.05 billion compared with K128.73 million the same period last year, largely due to delay in commencement of the harvesting season.This is according to the interim results for the year ended June 30, this year posted on Lusaka Securities Exchange (LuSE) yesterday.In an order to the board, Corporation Secretary, Chanza Sikazwe, said the delay arose mainly from the lengthy negotiations between ZAFFICO and the associations representing principal customers for pine and eucalyptus round wood.Additionally, this year’s allowable cut for pine round wood had been reduced compared to last year in line with the company’s stock levels.Mr Sikazwe said the gross profit and net income were also lower for the first half of this year compared to the same […]
ZAFFICO income drops
