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 [...]
NOTICE is hereby given that on the 19th of November 2020, the Board of Directors declared an interim dividend (number 28) of 26 ZWL 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 2020. The dividend will [...]
OVERVIEW The operating environment continued to be unstable during the year under review characterised by shortages of foreign currency, local currency depreciation, hyperinflationary conditions and a decline in real incomes. The country also experienced widespread food shortages following the 2018/2019 drought which was further exacerbated by poor yields in the current season. In addition, the [...]
CHAIRMAN'S STATEMENT OVERVIEW The operating environment continued to be unstable during the year under review characterised by shortages of foreign currency, local currency depreciation, hyperinflationary conditions and a decline in real incomes. The country also experienced widespread food shortages following the 2018/2019 drought which was further exacerbated by poor yields in the current season. In [...]
TRADING ENVIRONMENT The business conditions have remained unstable and challenging characterized by a depreciating local currency, severe power shortages, product supply challenges and significant increases in operating costs. Erratic supply of electricity necessitated increased use of alternative sources of power in order to minimize disruptions to the Group's operations. The extensive use of generators to [...]