In 1997, we established our own operations in Zambia and in the same year acquired a 51% share in the Mozambican seed company, SEMOC (Sementes de Mocambique). In 2000, Seed Co International Limited was formed in Botswana and Seed Co Malawi was established in the same year in order to assist with development in Malawi. In 2001 a joint seed business, Syngenta Seed Co was established in South Africa with Syngenta seeds. In 2002 an office was opened in Kenya to spearhead business development in East Africa.

All the SBUs recorded double digit growth in respect of profit after tax. Revenue was up by 27% to US$98m.

This growth was brought about by increased seed avilability and the firming of commodity prices for cotton and soya beans. Margins improved from 43% to 51% on the back of reduced production costs, a result of more favourable input costs than in the previous year. Profit after tax of US$17.4 million...

Seed Co fosters a corporate culture that promotes sustainable ethical, practices, encourages individual integrity and fulfils social responsibility objectives and imperatives.

Accordingly, we view our corporate social responsibility, corporate social investment and other social initiatives as central to doing business, part of our strategy, that in turn, supports business growth.