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 [...]
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 [...]
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 [...]
Overview The operating environment for the financial year under review was affected by Covid-19, with lockdown restrictions in place throughout the period. The lockdown measures negatively impacted business through supply chain disruptions and reduced consumer disposable incomes. The Group was also unable to hold its flagship promotion, the Grand Challenge. As a result, volumes for [...]
HISTORICAL FINANCIAL HIGHLIGHTS Revenue up 494% to ZWL 26.9 billion EBITDA up 221% to ZWL 2.7 bilion Profit for the year up 252% to ZWL 2.0 billion Earnings per share up 245% to ZWL 1.60 Net asset value per share up 258% to ZWL 2.91 Proposed final dividend of 54 ZWL cents per share CHAIRMAN’S [...]
TRADING ENVIRONMENT The relaxation of Covid-19 lockdown restrictions improved the operating conditions for the business during the third quarter to December. Extension of trading hours and free movement of people resulted in increased footfall into the stores. The foreign currency auction system improved availability of foreign currency leading to relative stability of the exchange rate [...]
CHAIRMAN’S STATEMENT OVERVIEW Covid-19 was declared a pandemic and the country went into lockdown from 30 March 2020. The lockdown restrictions remained in place at different levels throughout the period under review. The containment measures affected business through limited production, supply chain disruptions, logistical bottlenecks and reduced aggregate demand. Hyperinflation, underpinned by runaway depreciation of [...]