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 [...]
NOTICE is hereby given that on the 25th of November 2021, the Board of Directors declared an interim dividend (number 30) of 21 ZW$ cents per share payable in respect of the qualifying ordinary shares of the Company to be paid out of the profits for the period ended 30 September 2021. The dividend will [...]
Members are hereby advised that the following Resolutions were unanimously passed without alterations or amendments at the Eighteenth Annual General Meeting of the Shareholders of OK Zimbabwe Limited held on 29th July 2021. RESOLUTION RESULT Ordinary Business 1. CONSOLIDATED FINANCIAL STATEMENTS AND REPORTS To receive, consider and adopt the Audited Financial Statements of the Company [...]
TRADING ENVIRONMENT The business environment for the quarter under review continued to be characterised by Covid-19 induced restrictions. However, these restrictions were less severe compared to the same period in the prior year. Product supply remained stable on the back of improved availability of foreign exchange liquidity accessed through the auction system by our supply [...]
The Board is pleased to announce the appointment of Mr. Phillimon Mushosho as the Company’s new Chief Finance Officer and the appointment of Mr. Simon Masanga as a Non-Executive Director with effect from 1 July 2021. PHIL MUSHOSHO CA (Z) (SA), MBL CHIEF FINANCE OFFICER Phil is an accomplished Chartered Accountant with vast experience accumulated [...]
The Board of OK Zimbabwe Limited (“the Company”) wishes to announce that Albert Rufaro Katsande, the Company’s Commercial Director, retired on 30 June 2021 bringing an end to a remarkable career spanning almost 32 years of dedicated service to the Company. Albert joined OK Bazaars which was, then, a subsidiary of Delta Corporation in 1989 [...]