THE COMPANY HEREBY PROVIDES ITS TRADING UPDATE FOR THE THIRD QUARTER ENDED 31 DECEMBER 2023 OPERATING ENVIRONMENT The depreciation of the local currency against foreign currencies continued in the quarter under review. Consequently, persistent price changes adversely impacted on consumer demand and supply dynamics. Compliance with laws and regulations governing currency resulted in high instore [...]
Chairman's Statement Operating environment On behalf of the Board of Directors, l am honored to present the OK Zimbabwe Limited Group (“the Group” or “the Company”) financial results for the half-year ended 30 September 2023 (“HY24") to our esteemed shareholders. These results come at a time when the economy has suffered strong headwinds which were [...]
OK Zimbabwe announces the release of the analyst presentation for the half year ended 30 September 2023. Below is a summary of the inflation adjusted financial highlights: Revenue increased by 60.38% to ZWL727.9 Billion Operating Income increased by 121.66% to ZWL64.2 Billion Basic Earnings per share increased by 51.08% to 1,608.02 ZWL cents Cash Generated [...]
Operating Environment and Business Performance The first half of our current Financial Year (F24) has been characterised by an acute period of hyperinflation that was largely driven by exchange rate depreciation. WBWS +10% Instore Rate 01/04/2023: ZWL$1025 WBWS +10% Instore Rate 30/09/2023: ZWL$6013 The formal retail channel experienced very weak consumer demand during the first [...]
Chairman’s Statement Dear Shareholders I wish to start by unreservedly apologising to you all our shareholders for the delay in the publication of the financial results for the year ended 31 March 2023. This delay, was occasioned by the technical challenges experienced during the implementation of a new Enterprise Resource Planning (ERP) system. However, I [...]
OK Zimbabwe announces the release of the analyst presentation for the Audited Abridged Financial Results for the year ended 31 March 2023. Below is a summary of the financial highlights: Revenue increased by 33.3% to ZWL311.3 Billion Operating Income decreased by 6.3% to ZWL19.8 Billion Basic Earnings per share decreased by 37.3% to 398.33 ZWL [...]
Chairman’s Statement Dear Shareholders I wish to start by unreservedly apologising to you all our shareholders for the delay in the publication of the financial results for the year ended 31 March 2023. This delay, was occasioned by the technical challenges experienced during the implementation of a new Enterprise Resource Planning (ERP) system. However, I [...]
Financial Highlights Chairman’s Statement Dear Shareholders The first half of our Financial Year (F23) witnessed a very volatile trading environment that was characterised by episodes of extreme exchange rate volatility that resulted in high inflation. The annual inflation which was recorded at 96% at the beginning of the financial year, rose to 280% at the [...]
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 [...]
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 [...]