Brainworks have released their maiden final results, therefore there are no comparable figures. Revenue for the period came in at USD58.6 million, gross profit was USD39.5 million), loss attributable to owners of the parent was recorded as USD11.1 million, while headline loss per share was US14.22 cents per share.

Dividend

Due to the fact that the Company posted losses during the year, the Board did not declare a dividend.

Outlook

Following the political developments towards the end of 2017, the new government has declared that Zimbabwe is open for business and that broad theme has been well received by the business community in general and international investors in particular. The current Zimbabwean government has already begun to reverse some policies that were previously considered restrictive to investors coming into the country and these business friendly developments have reignited investor interest in Zimbabwe. The momentum arising from these positive changes and sentiment is expected to drive performance particularly within the hospitality sector.

Key objectives for 2018 will be to raise capital in order to restructure the Groups debt, and to consolidate and strengthen portfolio companies. The Group will continue to improve operational efficiencies, boost revenues and control costs which should lead to improved profitability and cash flows. The Company continues to seek new opportunities in key sectors as they become available in order to build shareholder value. The directors have always believed that the Groups assets are anchored on an improvement in the social, political and economic fortunes of Zimbabwe, which is now imminent. Being an election year, 2018 may deliver some challenges and benefits but with every likelihood of a much improved investor and business climate following the elections.