Seed Co Limited CEO Morgan Nzwere says his company took a revenue hit during the first half-year, dropping to $11.6 million because farming cycles shifted around, regional exports slowed down after other suppliers bounced back, and the winter wheat season was weaker than usual. The agricultural products firm posted a $5.7 million loss compared to profits from the year before, but Nzwere thinks the second half will look better as farmers gear up for the summer planting season.
The Zimbabwe-based business rolled out new maize hybrids SC661 and SC657, plus a wheat variety called SC W9104 that handles unpredictable rainfall better. Company leadership kept costs under control even with lower sales volumes, and they tightened up cash flow by chasing down debt payments faster and managing inventory more carefully.
The Zimbabwe-based business rolled out new maize hybrids SC661 and SC657, plus a wheat variety called SC W9104 that handles unpredictable rainfall better. Company leadership kept costs under control even with lower sales volumes, and they tightened up cash flow by chasing down debt payments faster and managing inventory more carefully.
