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Annual Report Summaries

Ndola Lime Company Ltd Extract from 2016 Annual Report

Ndola Lime Company Limited (NLC) reported total revenues for the financial year ended 31st March 2016 of K196.6 million (2015: K195.7 million) and a loss after tax of K86.3 million (2015: K17.7 million).

The company’s results during the year were affected by reduced sales margins, prolonged run of the inefficient rotary kiln, year-end inventory adjustments, additional depreciation charges arising from the commissioned new plant and exchange losses.

ZCCM-IH continued to provide financial support towards the completion of the Ndola Lime Recapitalisation Project. During the year an additional shareholder loan of K28.7 million (US$2.82 million) was provided. The project is expected to increase the company’s production volume at a reduced unit cost of production by using alternative cheaper fuel and is still undergoing hot commissioning.

The conversion of the ZCCM-IH shareholder loans into equity amounting to K659 million significantly improved NLC’s gearing.

There were no dividends declared during the year under review (2015: nil).

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