Agriterra (GB:AGTA) has released an update.
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Agriterra Ltd, an AIM-listed African agriculture company, has reported its annual results ending March 31, 2024, with a strategic review leading to a formulated 5-year plan aimed at enhancing profitability across its divisions. The company has reduced its debt servicing costs by securing shareholder loans totaling approximately $4.6 million and has made significant operational changes including the closure of the Maputo butchery due to competition from cheaper imports. Despite facing challenges such as increased maize costs and competition in the beef market, Agriterra continues to focus on adding value to the maize and beef value chain, with new developments such as the Doko Doko biscuit brand under its Grain division.
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