Crocodile meat and skin producer, Padenga Holdings Limited harvested 46.035 crocodiles in 2017, representing a four percent decline compared to the same period in 2016.
According to the group chairperson, Alexander Calder, skin quality grade declined from 95% first grade in 2016 to 89% in the period under review due to poor water quality caused by low lake levels combined with low average ambient temperatures at their farms.
“The skin quality grade achieved declined from 95% 1st Grade in 2016 to 89% in the period under review. Skin quality was negatively impacted by a combination of poor water quality resultant from low Lake water levels in late 2016 and early 2017 and a year of unnaturally low average ambient temperatures at the Farms.
“Conditions generally were very adverse for premium quality skin production and skins did not finish to the extent and at the rate traditionally experienced.
“One consequence of this was that harvesting was delayed well into the final quarter of the year with 52% of the off take occurring in this period.
“Although temperature moderation was not feasible because of the scale of the operation, measures have been implemented to counter the impact of poor water quality and we do not expect a repeat going forward,”he said.
He added that the Zimbabwe operation is expected to sell 46,000 premium quality skins in 2018.
“The Zimbabwe operation is expected to sell 46,000 premium quality skins in 2018. Demand for top quality skins remains steady and prices are expected to hold. We expect this operation to maintain the momentum and post another good result.
“In the Alligator operation, in addition to the watchband sized skins that are not suitable for grow-out, we will have medium sized skins for sale in 2018. We anticipate that this operation will continue to show positive growth in 2018,”he said.
Meanwhile the Board has declared a final dividend of 1.20 US cents per share, payable in respect of all the ordinary shares of the Company. This dividend is in respect of the financial year ending 31st December 2017 and will be payable in full to all the shareholders of the Company registered at the close of business on Friday 13th April 2018.
