Cafca reports $327k HY profit

Cafca reports $327k HY profit

HARARE, May 18 (The Source) –  Cable manufacturer CAFCA has reported a 41 percent increase in profit before tax to $327,000 for the six months to March, largely as a result of reducing costs and savings on interest from borrowings.

Revenue remained flat at $9,3 million, but export earnings grew by 68 percent to $705,000 as competition dropped due to lack of foreign currency.

Total assets stood at $16,7 million from $18 million.

The company did not declare dividend.