Harare-Seed manufacturer and marketer Seed Co International Limited (SCIL) says it expects its interim profit before tax for the half year ended 30 September 2020 to be approximately US$4.5m and US$4.8m ranging between 275-295%

This profit is a rebound from the loss of US$1.6m recorded in the same period in the prior year largely driven by the early maize seed sales

The profit projection is guided as per requirement of Section 5.4(c) (i) of the Equity Listings of the Botswana Stock Exchange (BSE) which compels issuers to announce through the press or BSE if the variation between its expected profit or loss before tax and the previous corresponding period exceeds 10%

In a trading update the Group also highlighted that its operations are seasonal thus the first half of the financial year is mainly a cost accumulation phase and meaningful sales activity commence during the rainy season which is the company’s second half fiscal year

As a result of the normal to above normal rainfall forecast and drive to ensure food security amidst Covid-19 pandemic, the outlook on the seed demand in the region is promising and expected to fluctuate by year end

The Group’s interim results for the period ended 30 September 2020 are expected to be published on or before the 31^st of December 2020

Seed Co International Limited is one of the leading certified seed companies authorized to market seed varieties developed by itself, government and other associated seed breeders in its markets.