·         AGM Notice: Simbisa

·         Press Release: Caledonia

·         Trading Update: BAT

·         HY Financial Results: RTG

·         FY Financial Results: Axia

Harare - AGM Notice: Simbisa; NatFoods

Simbisa Brands Limited announced that it will hold an Annual General Meeting (AGM) for stakeholders at 08:15 Hours on the 17th of November, 2023, at the Standards Association of Zimbabwe, Northend Close, Borrowdale Harare, as well as virtually on https://escrowagm.com/eagmZim/Login.aspx.

VFEX listed National Foods Holdings Limited said its 54th AGM is to be held at 08:45 am on Tuesday, the 14th of November, 2023, at National Foods Limited, 10 Stirling Road, Workington, Harare. The meeting will also be held virtually, and shareholders are invited to pre-register on the online portal that will be provided by FTS and submit their proxy forms at least 48 hours before the meeting.

Press Release: Caledonia

Caledonia Mining Corporation Plc alluded that, following the completion of the all-share merger between Cavendish Securities plc (previously named Cenkos Securities plc) and Cavendish Financial plc (previously named finnCap Group plc), and as a consequence of internal reorganisation within the Cavendish Group, the Company has changed its Nominated Adviser and Joint Broker from Cavendish Securities plc to Cavendish Capital Markets Limited.

Trading Update: BAT

In a Trading Update for the 9-months ended 30 September, 2023, BAT reported a -7% decline in cigarette sales volumes against comparable period in the prior year. The decline was induced by the challenging operating environment which weighed on consumer disposable incomes. However, the Group registered a 123% surge in inflation adjusted net turnover, owing to strategic price adjustments in the wake of inflation and exchange rate loss.

HY Financial Results: RTG

In the half-year to 30 June, 2023, Rainbow Tourism Group Limited (RTG) suffered a -4% decline in occupancy levels from 48% in the corresponding period last year to 46%. Inflation adjusted revenues for the period rose by 41% to ZWL49.6 billion, with the growth attributable to resilient performance in most business segments of the Group. Gross margins for the 6-months period stood at 65%, slightly below the 72% achieved in 2022, and this decline is due to an inflation-induced increase in costs. The Group’s Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) reached ZW$3.5 billion, a 63% decrease against the ZW$9 billion EBITDA reported in the comparable period in 2022.

FY Financial Results: Axia

Axia Corporation Limited succumbed to a mild decline in inflation adjusted revenue for the full-year ended 30 June 2023 to US$203.8 million. However, due to a commensurate decline in cost of sales, the Group reported a 2% growth in gross margin against comparable period. While the management effected a cost-containment strategy to manage operating expenditure, cost push pressures were recorded in fuel and human capital costs, which weighed on operating profits by -16% down to US$20.84 million. Axia also alluded that it suffered a significant exchange loss resulting from the depreciation of monetary assets denominated in local currency as the local currency significantly devalued in the last quarter of the financial year. The Group’s net interest expenses amounted to US$3.22 million, with 48% of this incurred in the first quarter of the financial year following the sharp increase in interest rates on ZWL denominated borrowings. Resultantly, a 32% decline in profit before tax was recorded, to US$11.19 million.

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