HARARE, December 7 (The Source) – Mashonaland Holdings narrowed its loss position for the year ended 30 September 2017 to $1.6 million compared to $5.9 million in 2016 largely driven by reduced property expenses.
HARARE, October 2 (The Source) – Listed property firm, Dawn on Monday reported an 81 percent drop in profit for the six month period to June 30, to $90,442 compared to $480,019 last year after an increase in expenses.
HARARE, September 13 (The Source) – First Mutual Holdings’ subsidiary Pearl Properties Limited has changed name to First Mutual Properties (FMP) as part of the group’s rebranding strategy. FMP, which is due to announce its 2017 interims on Wednesday afternoon, is separately listed on the… Read More
HARARE, September 11 (The Source) – Masawara Plc reported a 57 percent increase in after tax profit to $3,6 million in the six months to June from $2,3 million in the comparable period last year.
HARARE, August 22 (The Source)- Zimre Property Investments on Tuesday reported a 7 percent decline in revenue to $2,76 million in the six month period to June, weighed down by a 14 percent fall in rental income as the property sector remained subdued. The average… Read More
HARARE, June 20 (The Source) – Zimre Property Investments’ operating profit for the five months to May 2017 plunged 34 percent to $460,000 from $810,000 over the same period last year, largely on declining rental income and the slow pace of sales of residential stands.… Read More
HARARE, May 26 (The Source) – , Mashonaland Holdings after tax profit for the half year to March 31 grew 51 percent on the prior year to $984,748 after fair value adjustments in quoted securities. However, group revenue was 16 percent down to $2.4 million… Read More
HARARE, May 4 (The Source) – Restructuring conglomerate Zimre Holdings Limited (ZHL) will consolidate its regional operations under an entity to be listed in Botswana, as it continues its recovery following its removal from Unites States sanctions list early this year, chief executive Stanley Kudenga told… Read More
HARARE, April 10 (The Source) – Zimbabwe is experiencing an oversupply and underutilisation of industrial space due to closure of manufacturing firms and low influx of foreign direct investment, according to a leading real estate consultancy. Zimbabwe remains an FDI leper, with inflows declining from… Read More
HARARE, March 31 (The Source) – Dawn Properties after tax profit reached $1,02 million for the year ended December compared to a 9 month comparative period loss of $3,84 million largely driven by cost reductions and the restructuring. The group changed its financial year end… Read More
HARARE, March 23 (The Source) – Zimre Property lowered its after tax loss by 53 percent to $1,4 million in the full-year to December from $3 million in the prior period. “A negative fair value adjustment on investment property of $2,81 million was recorded at… Read More
HARARE, March 23 (The Source) – First Mutual Life (FML) has recovered to post net profit of $9,3 million for the year to December 2016 from a loss position of $131,000 in the prior year. The group’s operating profit improved to $9,2 million from… Read More
HARARE, March 22 (The Source) – Mortgage lender National Building Society (NBS) registered an operating loss of $2,98 million in its debut year to December 31, 2016 as set-up costs outstripped income, finance director Ethel Chitanda told journalists on Wednesday. The building society, wholly owned… Read More
BULAWAYO, March 9 (The Source) — PPC Zimbabwe says it is currently operating at a “less than ideal capacity utilization” due to reduced activity in the economy, but remains confident of a positive turnaround in the market in the short to medium term. PPC Zimbabwe… Read More
BULAWAYO, March 9 (The Source) – Leading international financial services provider Old Mutual plc says its Zimbabwe unit recorded a 20 percent jump in profit to R848 million ($64 million) last year, from R708 million ($53. 4 million) in 2015, mainly due to the depreciation… Read More