Dairibord shares snapped up

000, with daily turnover jumping 9 percent to US$2,5 million.

The transaction, which was handled by Interfin Securities, traded at a stable price of US28c – normal trades were at US27c.
Dairibord has 343 167 858 shares in issue and has two share option schemes of 3,5 million and 32,7 million shares valued at about US$95 million.

The milk processor comprises Lyons, Dairibord Zimbabwe, NFB Logistics, Kutal Investments and interests in ME Charhons 17,6 percent, Old Mutual Life 15,3 percent and Remo Nominees with 15,1 percent.
Dairibord is one of the favourite counters on the local bourse buoyed by improved milk intake with raw milk intake for the financial year ended December 2010, recorded at 22 million litres.

The company is also expecting improvements as the economy continues to recover, with the re-emergence of the middle class.
Despite the high cost of capital locally, Dairibord has managed to negotiate and obtain funds to carry out its investments.

The groups value-added lines have an installed capacity of six million litres per month and capacity utilisation improved to around 72 percent during the financial period ended December, 2011.
During the year, Dairibord is expecting a rebound in raw milk intake as the company is expected to import 41 million litres of milk, up from 31 million litres in the previous year.

The group says capital expenditure of US$7 million for the year should be raised from internal sources and borrowing.
The ZSE main stream index traded in the positive territory for three consecutive days gaining 0,19 percent in yesterday’s trades to close at 163,68 points.

Blue cheap counter Delta saw 992 000 shares changing hands at US82c in normal trades.
Financial counter CBZ had 2,3 million shares valued at about US415 000 crossing the counter.

The equities market has been depressed over the past month with a turnover of US$28 million from 475 million shares traded during the month.
Other gains were also recorded in Hippo US2c firmer at US107c, TA rose US1,50c to trade at US16,50c and Meikles advanced US1,10c to US40,10c.

However, only four counters traded in the negative territory. Aico Africa lost US0,50c to US18,50c, NTS was down US0,20c to US5c and Pearl retreated US0,10c to US2,90c.
ZHL closed at US1,30c after shedding US0,01c.

However, the mining index closed higher at 198,41 points after gaining 0,48 percent after Hwange gained US2c to trade at US70c.
Bindura retreated 2,30 cents to 6 cents as Falgold and RioZim were unchanged at previous levels.