Zimbabwean sugar producer Hippo Valley Estates Ltd reported a ZWL1.2 trillion operating loss for FY24 due to mill stoppages, decreased yields, higher input costs, and currency volatility.

Hippo Valley Estates Limited, a major sugar producer in Zimbabwe, reported significant economic difficulties for the year ending March 2024, resulting in an operating loss of ZWL1.2 trillion. Challenges included unscheduled mill stoppages, decreased yields, increased minimum wages, and high input costs driven by global inflation. The company also experienced financial distortions from currency volatility and anticipates slow growth in the sugar sector due to El Niño's impact on irrigation.

September 19, 2024
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