Bloomberg News

AICO Africa of Zimbabwe Return to Profit as Revenue Climbs

June 30, 2011

June 30 (Bloomberg) -- AICO Africa Ltd., a Zimbabwean cotton and seed producer, posted a full-year profit of $8.95 million after a $4.3 million loss a year earlier as production of the crops climbed.

Revenue for the year through March increased 15 percent to $210.6 million, the Harare-based company said in a statement published in the Herald newspaper today.

Cotton output jumped to 268,000 metric tons compared with 210,000 tons, and seed production rose 45 percent, AICO said.

To contact the reporter on this story: Brian Latham in Durban, South Africa at blatham@bloomberg.net

To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net


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