Regional seed processing concern, The African Seed Company has recorded a 23% increase in total seed production, which has been attributed to improved yields by seed growers.
The ZSE listed seed processing firm, which has operations in several regional countries, says the upsurge in seed production will ensure that the company meets its market demand.
The financial results just released by the firm indicate that total seed production rose by 23% with maize seed going up by 80%.
The companyâ€™s Group Chief Executive, Mr Morgan Nzwere applauded efforts by the seed growers, which saw yields jumping from an average of 1,9 tonnes per hectare to the current 2,9 tonnes per hectare.
Meanwhile, the company recorded a profit after tax of US$17,4 million up from the 2010 figure of US$13 million, owing to increased turnover in cotton and maize seed.
As part of its short term plans, the group is set to invest more in development of its subsidiaries in traditional markets including Zimbabwe, Zambia and Malawi to benefit from the firming of commoditiesâ€™ prices on the international market.