Companies

Zimbabwe

RTG records stellar profit growth, as occupancy more than doubles

ZSE-listed hospitality service provider, Rainbow Tourism Group’s (RGT) revenue grew 309% to ZW$21.4 billion, up from ZW$5.2 billion in the comparative period prior year as hotel room occupancy more th

Nov 24, 2022
Zimbabwe
ZIMPLOW: Barzem Enterprises suffers huge blow, ceases to be the CAT distributor

Harare – Zimbabwe Stock Exchange (ZSE) listed manufacturer and supplier of agriculture, mining and construction implements, Zimplow Holdings, posted an 11% increase in revenue for the third quarter en

 Nov 24, 2022
Zimbabwe
Turnall Holdings in 13% revenue jump despite 34% drop in volumes

Zimbabwe Stock Exchange (ZSE) listed manufacturer and supplier of roofing and building materials, Turnall Holdings, recorded a 13% increase in revenue in inflation-adjusted terms and a 282% surge in h

 Nov 23, 2022
Zimbabwe
What does Zimbabwe’s low LDR mean for monetary policy?

The loan-to-deposit ratio (LDR) has remained relatively low for the past three years for Zimbabwean commercial banks averaging 45 percent over the period against an international threshold level of 70

 Nov 23, 2022
Zimbabwe
Economic arena remains tough: GB Holdings

ZSE-listed rubber and chemicals manufacturer, General Belting Holdings Zimbabwe Limited lamented the operating environment which continues to be tough, despite government reiterating about growth pro

 Nov 23, 2022
Zimbabwe
Border Timbers archives impressive profit, despite volumes decline in Q1 FY’23

ZSE-listed concern, Border Timbers’ revenue grew 23% to ZW$2.2 billion, up from ZW$1.8 billion in the comparative period prior year despite volumes sold and production volumes for poles paring 68% and

 Nov 22, 2022
Zimbabwe
RioZim increases production despite tough conditions.

Harare- ZSE-listed company, RioZim Limited saw its production significantly hampered during the quarter due mainly to power supply challenges. Power outages took up to 30% of the available production

 Nov 22, 2022
Old Mutual excludes Zimbabwean earnings

Due to the ongoing impact of hyperinflation on the Zimbabwean economy, the company has to exclude the results of the Zimbabwe business from adjusted headline earnings. The Group headline earnings for

Nov 22, 2022
Edgars introduces US$ credit sales amid depressed performance

Leading clothing retail outlet, Edgars Zimbabwe Limited has introduced United States dollars (US$) credit sales for its customers as it battles to survive the aggressive monetary measures introduced b

Nov 22, 2022
EcoCash Holdings significantly narrow losses in HY’2022

Diversified technological group, EcoCash Holdings Zimbabwe Limited narrowed after tax loss incurred during the half-year ended 30 September 2022 by a whopping 81% to ZW$506 million from ZW$2.6 billio

Nov 22, 2022
Solace for National Foods as ZSE delisting looms

With a greater capacity to access US dollars with a "dollarized" financial sheet, National Foods will be better able to raise cash. The potential for the VFEX to develop into a regional exchange incre

Nov 21, 2022

Stanbic Bank Celebrates 30 years of driving Zimbabwe’s growth

Stanbic Bank is this month celebrating 30 years of service provision which has seen the leading financial services institution contributing significantly to the socio-economic growth of Zimbabwe and t

Nov 18, 2022

Innscor Archives steady volumes growth, despite waning momentum

The Bakery Division experienced a marginal drop in comparison to the comparative quarter. This was propelled by the Russia-Ukraine war which made global wheat prices surge. Recently prices of wheat ha

Nov 18, 2022

BAT Zimbabwe Sales volumes drop on the back of the scarcity of the local currency

Tobacco Processor, BAT Zimbabwe's financial performance for the nine months ending 30 September was severely influenced by a lack of local currency, which was exacerbated by the government's stringent

Nov 18, 2022

Lafarge cement sales volumes tumble by 23%

The other factor that led to the low volume of sales and revenue also has to do with the roof collapse the company experienced which suppressed the availability of cement.

Nov 18, 2022

National Foods records substandard Q3 volumes

ZSE- listed, Innscor Limited subsidiary, National Foods Limited recorded unpleasing Q3 volumes accusing the recent unusual presiding fiscal and monetary stance. The food processing company was greatly

Nov 18, 2022

FMP posts an increase in profit growth.

ZSE-listed company First Mutual Properties posted aminimalistic update for the quarter. Many descriptive statistics and financial line items such as cash generated from operations, and financial perfo

Nov 18, 2022

Delta Boasts of HY’23 stellar financial performance

ZSE-listed beverages giant, Delta Corporation, released a stellar financial performance for the six months ended 30 September 2022 despite operating in a trading environment characterized by unstable

Nov 18, 2022

FML's income climbs to ZW$58 billion anchored by foreign exchange gains

Financial services giant, First Mutual Holdings Limited has reported a 39% income jump to ZW$58 billion during the third quarter ended 30 September 2022 from ZW$42 billion recorded in the 2021 compara

Nov 17, 2022