ENVIRONMENTAL OVERVIEW Inflationary pressures that gathered momentum at the end of the last financial year have persisted, with month-on-month inflation for June 2022 increasing sharply to 30.7% from 21% in May 2022. Year on year inflation for the month of June 2022 was reported at 191.6%, a significant increase from 72.7% reported at the end [...]
Members are hereby advised that the following Resolutions were unanimously passed without alterations or amendments at the Twenty-First Annual General Meeting of the Shareholders of OK Zimbabwe Limited held on 28 July 2022: RESOLUTION RESULT Ordinary Business 1. Consolidated Financial Statements and Reports Adoption of Financial Statements for the year ended 31 March 2022, together [...]
MR. CHARL JOHN GONCALVES INDEPENDENT NON-EXECUTIVE DIRECTOR The Company is pleased to announce the appointment of Mr. Charl John Goncalves to the Board of Directors as an Independent Non-Executive Director with effect from 1 September 2021. Charl is a Chartered Accountant registered with the South African Institute of Chartered Accountants. He completed his articles with [...]
Chairman’s Statement Overview The country’s operating environment was relatively stable compared to the prior year, mainly on account of relaxation of Covid-19 restrictions. Official annual inflation closed the financial year at 72.7%, having declined from 240.6% for March 2021. The Reserve Bank of Zimbabwe (RBZ) foreign exchange auction platform managed to induce stability in the [...]
NOTICE IS HEREBY GIVEN THAT the Twenty-First Annual General Meeting of the Shareholders of OK Zimbabwe Limited will be held at the registered Company office at 7 Ramon Road, Graniteside, Harare on Thursday 28 July 2022 at 15:00 hours for the purposes of transacting the business detailed below. Shareholders will be requested to connect and [...]
OK Zimbabwe announces the release of the analyst presentation for the Audited Abridged Financial Results for the year ended 31 March 2022. Below is a summary of the financial highlights: Revenue increased by 34.7% to ZWL79.8 Billion. Operating Income increased by 54.5% to ZWL5.7 Billion Basic Earnings per share increased by 45.1% to 217,03 ZWL [...]
Chairman’s Statement Overview The country’s operating environment was relatively stable compared to the prior year, mainly on account of relaxation of Covid-19 restrictions. Official annual inflation closed the financial year at 72.7%, having declined from 240.6% for March 2021. The Reserve Bank of Zimbabwe (RBZ) foreign exchange auction platform managed to induce stability in the [...]
NOTICE is hereby given that on the 2nd of June 2022, the Board of Directors declared a Dividend Number 31 of ZW$36.5 cents and US$0.13 cents per share payable in respect of the qualifying ordinary shares of the Company to be paid out of the profits for the financial year ended 31 March 2022. This [...]
TRADING ENVIRONMENT The macroeconomic environment posed various challenges in the quarter under review. In spite of the myriad of challenges, the Group's stores were well stocked to deliver good quality service to our customers during the peak festive season. The Company worked with the Reserve Bank of Zimbabwe (RBZ) to co-create solutions around in-store foreign [...]
FINANCIAL HIGHLIGHTS Sales volumes up 43% Revenue up 42% to ZW$ 25.2 billion Interim dividend of 21 ZW$ cents per share CHAIRMAN’S STATEMENT OVERVIEW The operating environment was less turbulent than in the comparative period as evidenced by receding inflation and relative exchange rate stability. Official inflation progressively eased during the period, reaching a low [...]