Meatco Targets N$2 Billion Revenue in 2026/27 FY

Meatco is targeting approximately N$2 billion in revenue in the 2026/27 financial year after reporting a decline in revenue, gross profit and operating profit, following a sharp reduction in cattle processed during the previous financial year.

The corporation’s group revenue fell to N$1.11 billion for the year ended 31 January 2026, compared with N$1.87 billion in 2024/25.

This drop is due to lower cattle supply and reduced production volumes affected its operations, according to its 2025/2026 FY annual report.

Interim Chief Executive Officer Ambassador ,Albertus Aochamub on the report attributed the decline in revenue to the reduced availability of cattle and lower production volumes.

He, however, noted that the corporation remained profitable despite the lower throughput.

The financial results showed that operating profit declined from N$145.3 million to N$77 million, while profit after tax decreased from N$43.8 million to N$40.5 million.

Gross profit also dropped significantly, from N$143.2 million in the previous financial year to N$39.4 million during the period under review, according to the report.

Meanwhile, finance costs decreased from approximately N$43 million to N$36.9 million. Government grant income amounted to N$186 million, compared with N$216.6 million in 2024/25, while other operating income totalled N$198.3 million, down from N$220.9 million.

Aochamub said the lower throughput had affected the corporation’s revenue and profitability, but highlighted the role of financial management and cost control in keeping the business profitable.

“The lower throughput environment inevitably impacted revenue and profitability. However, prudent financial management, disciplined cost control and improved working capital management enabled the Group to remain profitable while strengthening its financial position,” he said.

The decline in revenue coincided with a fall in cattle throughput from 75,268 head in 2024/25 to 35,594 in 2025/26. Production volumes also decreased from 18,673 tonnes to 8,930 tonnes.

Looking ahead, Meatco’s approved business and financial plan for 2026/27 projects revenue of approximately N$2 billion and throughput of 50,000 cattle.

Aochamub said the projections were supported by planned improvements in operational efficiency and continued financial discipline.

He further outlined that the corporation would prioritise restoring throughput and strengthening livestock procurement, while maintaining access to premium international markets.

In addition, Aochamub said Meatco would focus on cost optimisation, organisational efficiency and stabilising its Northern Communal Areas operations.

He also expressed optimism about a gradual recovery in the national cattle herd and improving market conditions.

“While challenges remain, Meatco enters the new financial year with a stronger balance sheet, improved liquidity, and renewed confidence in its ability to deliver sustainable value to producers, customers and stakeholders,” Aochamub said.