White said that despite the weaknesses in the Mozambique Metical, turnover for Lonrho IT was growing. The firm currently operates in Angola, the Democratic Republic of the Congo, Mozambique, Zambia and Zimbabwe.
White said in his unaudited interim results for the six months ended September 30, 2011 that Lonrho was delighted to report a 35 percent increase in revenues and a 190 percent increase in profit before tax for the period.
“Lonrho continues to focus exclusively on the emerging African market and has seen a strong demand during the period for its core services in agriculture, logistics, transport and infrastructure across the continent,” he said.
Executive Chairman, David Leningas, said: “We believe that in an increasingly turbulent global economic environment, Africa is a very attractive investment opportunity.”
Listed on the London Stock Exchange, Lonrho generates large volumes of produce and then processes, packs and ships it to retail chains within Africa to companies such as Shoprite, Massmart, Woolworth’s, Pic n Pay, Makro and Spar.Post published in: News