Online Reporter
Nelson Gahadza
Senior Business Reporter
CFI Holdings recorded strong volume growth across key operating units in the half-year to March 31, 2026, buoyed by robust demand for agricultural inputs following a successful farming season.
However, intense competition from the informal sector weighed on profitability.
The diversified agro-industrial group said inflation-adjusted revenue rose 51,3 percent to ZiG2,30 billion from ZiG1,52 billion in the comparable period last year, driven primarily by higher sales volumes in its retail, milling and food manufacturing operations.
Group chairperson Ms Itai Pasi said the business delivered solid operational growth across its major subsidiaries despite a challenging trading environment characterised by aggressive competition from the informal market.
“The growth was mainly driven by higher demand for agricultural inputs during a largely successful farming season,” Ms Pasi said in the group’s half-year trading update.
Retail operations remained the group’s largest contributor to turnover, accounting for 86,33 percent of revenue from 85,04 percent a year earlier.
Food manufacturing and down-packing operations contributed 11,12 percent, while farming operations accounted for 2,18 percent and property activities 0,37 percent.
Farm & City Centre (FCC), the group’s retail division, recorded a 16 percent increase in sales volumes for its key product lines as farmers increased purchases of agricultural inputs and accessories following favourable rainfall during the 2025/26 agricultural season.
Ms Pasi said FCC would continue broadening its product range to ensure profitability beyond the peak agricultural selling season.
Agrifoods, the group’s milling and down-packing business, also posted solid growth, with sales volumes increasing 13 percent compared to the same period last year, supported by stronger aggregate demand for its products.
“Management remains focused on growing Agrifoods’ market share notwithstanding increased competition in the feed sector,” Ms Pasi said.
She noted that the standout performer during the period under review was Victoria Foods, which staged a significant operational turnaround after improved availability of wheat and maize raw materials.
Sales volumes for wheat flour surged 139 percent while maize meal volumes increased 88 percent compared to the prior year.
The company said management was focusing on strategic procurement ahead of the new harvest to sustain production and improve supply security.
