- Net loss narrowed to US$1.44 million, down from US$2.1 million, reflecting a 32% decline in losses
- Revenue dropped 18% to US$1.99 million from US$2.43 million, mainly due to lower crop output and reduced exports
- Operating expenses dropped to US$2.1 million from US$2.3 million in the prior period
Harare -Ariston Holdings Limited, a diversified agricultural company, has reduced its net loss from US$2.1 million to US$1.44 million a 32% decline in losses according to the financial statement for the six months ended 31 March 2025.
This was attributed to a 24% reduction in the cost of production, which significantly narrowed its gross loss to US$441,078, compared to US$781,432 in the same period last year.
As a result operating expenses dropped to US$2.1 million from US$2.3 million in the comparative period last year.
The improvement comes despite an 18% drop in revenue, from US$2.43 million to US$1.99 million, primarily due to lower output and strategic export curtailments in its key crops.
The company’s ability to reduce its loss by nearly a third signals a turning point in its recovery strategy, underpinned by tighter cost control, improved cash flow management, and a pivot toward sustainability.
Despite the agricultural season being challenged by erratic rainfall and high temperatures across its estates ,the company responded with adaptive measures, leveraging irrigation systems and conserving water by suspending non-essential crops such as potatoes.
This strategy, while necessary, contributed to a 16% decline in revenue from other crops including seed maize, vegetables, and avocados.
The company expects a rebound is expected in the second half of the year when over 300 hectares of commercial maize at Kent Estate are harvested and sold.
Meanwhile, tea production a staple for Ariston fell by 45% to 1,004 tonnes from 1,830 tonnes in the same period last year driven by unfavourable weather and reduced exports, a deliberate choice due to poor international pricing and the Reserve Bank of Zimbabwe’s 30% foreign currency retention requirement.
In contrast, local tea demand remained robust, helping contain the revenue decline from tea to just 2.5%.
Macadamia production dropped 32% to 411 tonnes, however, the group earned US$267,172 in revenue by selling 140 tonnes of early-harvested nuts.
The group’s three joint ventures Bonemarrow Investments (Claremont Power Station), Claremont Orchards Holdings, and Mombe Shoma continued to support overall earnings, with profit share from these ventures increasing nearly fivefold to US$63,256, up from US$13,621 a year earlier.
These ventures are part of Ariston’s broader diversification strategy, designed to stabilise income outside core estate production.
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