Latest Share Price
(End of Day Data)
All Share Index
(ZSE All Share Index)
ZNSM Index
(Zimbabwe National Stock Index)
Consumer Staples Index
(Dairibord falls in this sector)
- CEO Announcement >>
Overview
- 1225 Rekayi Tangwena Rd, PO Box 2512, Harare
- +263 242 790801-6; +263 242 779035-42
<i class="fa fa-shopping-cart"></i> Main Products | Milk; Beverages; Foods |
<i class="fa fa-industry"></i> Factories | Harare; Chitungwiza; Chipinge |
<i class="fa fa-building"></i> Depots | Mutare; Gweru; Bulawayo; Gwanda; Masvingo |
<i class='fas fa-globe-africa'></i> Export Markets | Zambia; Botswana; Mozambique; South Africa; UK |
Key Executives
<i class="fa fa-user-circle"></i> Group Chief Executive | M. R. Ndoro |
<i class="fa fa-user-circle"></i> Group Finance Executive | L. Mutunga |
<i class="fa fa-user-circle"></i> Company Secretary | M. Karimupfumbi |
Key Shareholders
| Shareholder | Shares Held | % Held |
|---|---|---|
| Mega Market (Pvt) Ltd | 85,647,908 | 23.92% |
| Stanbic Nominees (Pvt) Ltd | 85,442,730 | 23.87% |
| Serrapin Investments (Pvt) Ltd | 43,106,644 | 12.04% |
| Old Mutual Life Ass Co Zim Ltd | 38,112,678 | 10.65% |
| Mining Industry Pension Fund | 17,667,266 | 4.93% |
| Total for Top-5 | 269,977,226 | 75.41% |
| Other Shareholders | 88,023,632 | 24.59% |
| Total Shares in Issue | 358,000,858 | 100.00% |
Company Snapshot
Governance Structure
The Group’s governance is designed to distribute duties between the Board of Directors and Senior/Executive Management. An independent non-executive director chairs the Board. The Board is organized into five (5) committees. The CEO and the committees are directly accountable to the board. The Senior/Executive Management consists of seven (7) functions led by executives who report directly to the Group CEO. Internal Audit and Risk Management is an independent department reporting to the Board.
(Chairman, Independent)
CMA (UK), MBL (UNISA), INSEAD Management Development Program, Executive Management Program (UCT), B. Acc (UZ)
Executive Director
(Group Chief Executive)
ACISZ, MBA (UZ), B. Acc (Hons) (UZ)
(Group Finance Director)
CA(Z), BComm (Hons) Accounting (NUST), B. Acc / BCompt (Hons) (UNISA), Bachelor of Laws (LLB) (UNISA), MBL, Executive Development Program (UCT GSB)
(Independent)
CA (Z), MBA (UZ), Executive Development Program (LBS), B. Acc (Hons)
(Independent)
CA (SA)
Non-Executive Director
Diploma in Agriculture (Chibero College of Agriculture)
BSc (Hons) Agricultural Management (University of Natal)
(Independent)
CA (Z), B.Compt (UNISA)
(Independent)
BBS Hons (UZ), MBA (University of Gloucestershire)
BBS & Computing Science (UZ), MBL (UNISA Graduate School of Business Leadership)
Group Chief Executive
Group Finance Director
Chief Operations Officer
Human Resources and Administration Executive
Marketing Services Executive
Milk Supply Development Executive
Chief Internal Auditor
Business Information Systems Executive
Finance, Audit and Risk
The committee oversees control procedures, risk management and financial reporting of the Company. It offers direct oversight and engagement with both internal and external auditors on behalf of the Board. The committee reviews all significant risks to the Group, as well as risk mitigation strategies and their success, quarterly.
Members: Nobert Chiromo; Ketan Naik; Bruce Henderson
Nominations
Nominations Committee searches for and receives nominations, performs background and reference checks and offers recommendations on board candidates. It assesses the board’s knowledge, relevance and independence. The committee is also in charge of coordinating the review of board performance.
Members: Cleton Mahembe
Remuneration
This committee is responsible for assessing the Company’s remuneration policies and approving remuneration packages for senior executives.
Members: Rachel P. Kupara
Milk Supply Development
The Milk Supply Development Committee’s role is to drive the Group’s milk supply expansion plan. The primary goals are to minimise the cost of raw milk production, enhance farm output and quality and improve milk production efficiency.
Members: Josephat Sachikonye; Nobert Chiromo
Business Development
The Business Development Committee is primarily responsible for driving business growth. It is charged with proposing new business opportunities and implementing strategic and generative plans to meet the Company’s vision and objectives.
Members: Ketan Naik; Bruce Henderson
Compliance
Dairibord follows all applicable rules and regulations. We have principles and values which guide our workers and leadership to follow the rules and regulations that govern the business and industry. This directs our personnel to reduce our exposure to compliance risks.
Responsibility
The Company Secretary is the senior custodian for compliance matters at Dairibord Holdings.
Monitoring Compliance
Each executive maintains the compliance systems for their relevant area ensuring they are up to date on any changes that occur and that staff in their respective functions are kept abreast of the changes. All staff members are expected to be aware of the Dairibord code of conduct. We continuously engage with regulatory authorities on any legal changes and for legal advice.Risk Management
Risk is inextricably linked to the Group’s activities and cannot be separated from opportunity. Given the instability in the operational environment, it is necessary to conduct continual risk assessments as risks are ever-changing. In a short amount of time, a low effect, low chance scenario might transform into the most serious risk, such as global pandemics, cyclones, societal upheaval, and so on. Our risk management is integrated across our company activities to preserve value and respond to the changing nature of risks. In terms of likelihood and effect, the risks outlined in this report are the primary uncertainties.
Group Risk Management Framework
The Board is ultimately accountable for risk governance. The risk management role has been entrusted to the Finance Audit and Risk Committee by the Board. The Finance, Audit, and Risk Committee is made up entirely of non-executive directors, with 67% of them being independent. The committee reports to the full Board of Directors. The Finance, Audit, and Risk Committee’s risk mandate is to ensure that the Group has suitable procedures in place to identify, measure, anticipate, plan for, and respond appropriately to any risks that the company may encounter.Export Markets
Latest Performance Indicators (1H 2024)
The Group changed its functional and reporting currency from ZWL$ to USD on 1 March 2024
1H 2024 Revenue (USD)
+13% (USD54.7m)
HY 2024 vs HY 2023
1H 2024 EBITDA (USD)
-53% (USD5.1m)
HY 2024 vs HY 2023
1H 2024 Attributable Profit (USD)
+516% (USD3.1m)
HY 2024 vs HY 2023
- National raw milk production surged by 22% year-on-year, reaching a total of 55.1 million litres in 1H 2024
- Liquid Milks volumes increased by 21% year-on-year due to augmented raw milk supply. Chimombe, Steri, Lacto and Supermilk all recorded gains in market share
- Expanded market dominance from 28% in 2023 to a commanding 36% in the current period
- Foods sales volume rose by 25%, largely driven by exceptional performance of Yummy yoghurt and ice creams, and a recovery in Lyons peanut butter
- Conversely, the Beverages category contracted by 8%, primarily attributable to challenges encountered by the Pfuko brand
- Export volume grew by 59%, contributing 9% to overall sales, an increase from the preceding period’s 6% share
- Volume sold in US$ constituted 76% of the total volume, up from the 64% recorded in the corresponding period last year
- The rapid depreciation of the local currency prior to the introduction of the ZWG resulted in significant net foreign exchange losses of US$3.3m
Latest Reports
Interim Report
HY 2024
AGM Trading Update
2024 AGM
Annual Report
2023
Abridged Report
FY 2023
Analyst Briefing
FY 2023
| Year | File Name | Released | Report Link |
|---|---|---|---|
| 2023 | Q3 2023 Trading Update | 13/11/2023 | Download |
| 2023 | Q1 2023 Trading Update | 28/04/2023 | Download |
| 2022 | FY 2022 Results Presentation | 17/05/2023 | Download |
| 2022 | Q3 2022 Trading Update | 10/11/2022 | Download |
| 2022 | Q1 2022 Trading Update | 04/05/2022 | Download |
| 2021 | FY 2021 Results Presentation | 06/04/2022 | Download |
| 2023 | 2023 Half Year Results | 12/09/2023 | Download |
| 2020 | 2020 Half Year Results | 28/09/2020 | Download |
| 2021 | 2021 Half Year Results | 27/08/2021 | Download |
| 2022 | 2022 Half Year Results | 06/09/2022 | Download |
| 2019 | 2019 Half Year Results | 02/08/2019 | Download |
| 2021 | Q3 2021 Trading Update | 20/10/2021 | Download |
| 2021 | 2021 AGM Trading Update | 30/06/2021 | Download |
| 2021 | Q1 2021 Trading Update | 14/05/2021 | Download |
| 2020 | Q3 2020 Trading Update | 28/10/2020 | Download |
| 2020 | 2020 AGM Trading Update | 30/06/2020 | Download |
| 2020 | Q1 2020 Trading Update | 11/05/2020 | Download |
| 2019 | Q3 2019 Trading Update | 12/11/2019 | Download |
| 2010 | FY 2010 Results | 28/02/2011 | Download |
| 2011 | FY 2011 Results | 27/02/2012 | Download |
| 2012 | FY 2012 Results | 05/03/2013 | Download |
| 2013 | FY 2013 Results | 13/03/2014 | Download |
| 2014 | FY 2014 Results | 12/03/2015 | Download |
| 2015 | FY 2015 Results | 10/03/2016 | Download |
| 2016 | FY 2016 Results | 15/03/2017 | Download |
| 2017 | FY 2017 Results | 12/03/2018 | Download |
| 2018 | FY 2018 Results | 04/03/2019 | Download |
| 2019 | FY 2019 Results | 19/03/2020 | Download |
| 2020 | FY 2020 Results | 08/03/2021 | Download |
| 2021 | FY 2021 Results | 14/03/2022 | Download |
| 2022 | FY 2022 Results | 17/03/2023 | Download |
| 2010 | 2010 Annual Report | 15/06/2011 | Download |
| 2011 | 2011 Annual Report | 20/06/2012 | Download |
| 2012 | 2012 Annual Report | 20/06/2013 | Download |
| 2013 | 2013 Annual Report | 19/06/2014 | Download |
| 2014 | 2014 Annual Report | 15/06/2015 | Download |
| 2015 | 2015 Annual Report | 24/06/2016 | Download |
| 2016 | 2016 Annual Report | 06/06/2017 | Download |
| 2017 | 2017 Annual Report | 26/06/2018 | Download |
| 2018 | 2018 Annual Report | 12/06/2019 | Download |
| 2019 | 2019 Annual Report | 10/06/2020 | Download |
| 2020 | 2020 Annual Report | 11/06/2021 | Download |
| 2021 | 2021 Annual Report | 30/06/2022 | Download |
| 2022 | 2022 Annual Report | 15/06/2023 | Download |
| 2009 | 2009 Half Year Results | 21/08/2009 | Download |
| 2010 | 2010 Half Year Results | 06/08/2010 | Download |
| 2011 | 2011 Half Year Results | 12/08/2011 | Download |
| 2012 | 2012 Half Year Results | 07/08/2012 | Download |
| 2013 | 2013 Half Year Results | 13/08/2013 | Download |
| 2014 | 2014 Half Year Results | 07/08/2014 | Download |
| 2015 | 2015 Half Year Results | 07/08/2015 | Download |
| 2016 | 2016 Half Year Results | 15/08/2016 | Download |
| 2017 | 2017 Half Year Results | 10/08/2017 | Download |
| 2018 | 2018 Half Year Results | 07/08/2018 | Download |
| 2018 | FY 2018 Results Presentation | 20/03/2019 | Download |
| 2017 | FY 2017 Results Presentation | 14/03/2018 | Download |
| 2016 | FY 2016 Results Presentation | 29/03/2017 | Download |
| 2015 | FY 2015 Results Presentation | 16/03/2016 | Download |
| 2014 | FY 2014 Results Presentation | 18/03/2015 | Download |
| 2013 | FY 2013 Results Presentation | 19/03/2014 | Download |
| 2012 | FY 2012 Results Presentation | 20/03/2013 | Download |
| 2011 | FY 2011 Results Presentation | 29/02/2012 | Download |
| 2023 | FY 2023 Results | 28/03/2024 | Download |
| 2023 | FY 2023 Results Presentation | 04/04/2024 | Download |
| 2024 | Q1 2024 Trading Update | 15/05/2024 | Download |
| 2024 | Notice of 29th AGM to be held on 10 July 2024 | 19/06/2024 | Download |
| 2024 | 2023 Annual Report | 28/06/2024 | Download |
| 2024 | 2024 AGM Trading Update | 12/07/2024 | Download |
| 2024 | Results of 29th AGM - 10 Jul 2024 | 18/07/2024 | Download |
| 2024 | Notice of appointment of a Non-Executive Director | 05/08/2024 | Download |
| 2024 | 2024 Half Year Results | 26/09/2024 | Download |
| 2024 | CEO Notice: Clarification on position on the expansion drive | 08/10/2024 | Download |
| 2024 | Q3 2024 Trading Update | 14/11/2024 | Download |
Our Journey to Listing
DMB is commercialised and Dairibord Zimbabwe Limited (DZL) is born
Share Performance
Stock Information
| Parameter | Result |
|---|---|
| ZSE Ticker | DZL.zw |
| ISIN | ZW 000 901 197 5 |
| Sector | Consumer Staples |
| Year-End | 31 December |
| Year Founded | 1952 |
| Year Listed | 1997 |
Share Trading Snapshot
| Parameter | Value |
|---|---|
| Last Trade | 13 January 2025 |
| Closing Price | 224.0000 ZWG cents |
| Traded Volume | 2,800 shares |
| Value Traded | ZWG 6,745.50 |
| Daily Change | ▼0.03% / -0.0441c |
| 365-Day Change | ▲188% |
Valuation Summary
| Parameter | Value |
|---|---|
| Issued Shares | 358,000,858 |
| Market Capitalisation | ZWG 536,643,286 |
| Dividend Yield | 0.00% |
| Price to EPS (x) | 194.37 |
| Price to Book Value (x) | 7.47 |
| Enterprise Value/EBITDA (x) | 16.52 |
Shareholder Return
Dividend History
- Announcement date: 28 April 2023
- Last date to trade cum-dividend: 16 May 2023
- Share trade ex-dividend: 17 May 2023
- Last record date: 19 May 2023
- Payment date: 31 May 2023
- Announcement date: 28 March 2022
- Last date to trade cum-dividend: 19 April 2022
- Shares trade ex-dividend: 20 April 2022
- Last record date: 22 April 2022
- Payment date: On or about 13 May 2022
- Announcement date: 28 April 2021
- Ex-dividend date: 12 May 2021
- Record date: 14 May 2021
- Payment date: 18 June 2021
- Dividend per share: ZWL0.23
- Cum-dividend date: up to the market day of 2 April 2019
- Ex-dividend date: as from 3 April 2019
- Record date: 5 April 2019
- Payment date: on or about 16 April 2019
- Dividend per share: RTGS$0.007
- Cum-dividend date: up to the market day of 15 May 2018
- Ex-dividend date: as from 16 May 2018
- Record date: 18 May 2028
- Payment date: on or about 28 May 2018
- Dividend per share: 0.20 US cents
Upcoming Events
| Event Detail | Date |
|---|---|
| Financial half-year end | 1751241600 Jun 30, 2025 |
| Publication of the 2024 annual report* | 1749816000 Jun 13, 2025 |
| Publication FY 2024 results and dividend announcement* | 1743422400 Mar 31, 2025 |
Investor Contact
- Marketing Services Executive
- +263 (242) 754 625/9
Share Transfer Agents
-
2nd Floor ZB Centre
56 Kwame Nkrumah Avenue
Harare
Auditors
-
West Block, Borrowdale Office Park
Borrowdale Road
Harare