Agriterra group’s revenues in Mozambique rise 115 pct from June to November

13 December 2012

The revenues of Pan-African agricultural group Agriterra from its business in Mozambique rose 115 percent to US$11.4 million in the six-months ended in November, the Guernsey-based group said in a statement issued Wednesday.

Providing an update on its cattle breeding and maize businesses, the group said that cattle slaughter at the Chimoio abattoir, in the capital of Manica province, had begun on 3 December.

The group also announced that the abattoir would continue to be expanded in order to reach a capacity of 4,000 head of cattle per month, as compared to 200 at the moment.

According to the statement the Agriterra group plans to buy a 1,000 hectare plot of land next to its cattle breeding unit in order to provide pasture for a herd of 10,000 cattle.

Agriterra is listed on the London Stock Exchange’s Alternative Investment Market (AIM) and is involved in producing beef, maize, cocoa and palm oil in Mozambique and Sierra Leone. (macauhub)