By Respect Gwenzi, HARARE, February 19 (The Source) – Simbisa Brands, a local quick service restaurant brand with huge regional exposure and a listing on the ZSE, has announced a firm intention to acquire an international restaurant group once shareholders and regulatory approvals are secured.… Read More
HARARE, November 30 (The Source) – Clothing retail chain, Truworths said it recorded double digit revenue growth across its business in the four months to November 4 on strong demand and expects a profitable half year.
HARARE, November 29 (The Source) -Specialty retail and distribution group Axia Corporation says operating profit during the first quarter to September 30 nearly doubled on prior period, setting the group up for positive earnings in the half-year.
HARARE, November 13 (The Source) – Zimbabwe’s largest retailer, OK Zimbabwe last week said its internal tracking of inflation showed that inflation stood at 7,69 percent in September, much higher than the 0,78 percent given out by the Zimbabwe Statistics Agency (Zimstats), laying bare the… Read More
HARARE, November 9 (The Source) – Retail group OK Zimbabwe on Thursday said its net income more than doubled to $5,1 million in the six months to September, from $2,3 million in the comparable period last year on increased revenue and inflationary pricing.
HARARE, October 27 (The Source) – Willoughby’s Investments, one of the major shareholders in CFI Holdings Limited, is now seeking removal of three directors including the acting chairperson, Grace Muradzikwa, escalating the war over control of the agro-industrial conglomerate. Last week Willoughby’s Investments, with support… Read More
BULAWAYO, October 17 (The Source) – South African retailer Pick n Pay says its Zimbabwe associate TM Supermarkets performance boosted the group’s half year revenue for its Rest of Africa division which increased by 12.6 percent to R2.3 billion ($170 million).
BULAWAYO, October 12 (The Source) – Botswana-listed retail group, Choppies says revenue at its Zimbabwe operations grew by 17 percent in full year ended June 30 despite a sluggish economy underlined by chronic shortages of cash. The growth in revenue was despite a three percent… Read More
HARARE, October 6 (The Source) – Clothing retail chain, Truworths widened its loss after tax by 73 percent from $1 million to $1,7 million in the full year to July weighed down by a 24 decline in revenue.
BULAWAYO, October 3 (The Source) – Botswana retail group Choppies says its net profit for the full year ended 30 June 2017 is expected to be lower than the previous year on losses accrued from new regions. The group which has more than 30 outlets… Read More
HARARE, October 2 (The Source) – Simbisa Brands reported a net income of $6,3 million, up from $5 million last year driven by an eight percent growth in revenue. Revenue grew from $146,6 million in the same period last year to $158,9 million as… Read More
HARARE, September 28 (The Source) – National Tyre Services Limited expects a profitable full-year after a 14 percent increase in sales for the first half of the 2018 financial year compared to same period last year and cost containment measures. Managing director Kennedy Mandevani told… Read More
HARARE, September 26 (The Source) – Shortages of cooking oil in Zimbabwe are imminent following a cut in foreign currency allocations to manufacturers by the central bank. The Reserve Bank of Zimbabwe (RBZ) tightly controls foreign currency which is in short in the southern… Read More
HARARE, September 19 (The Source) – Clothing retail chain Edgars stores reported a fivefold increase in after tax profit to $567,499 in the six months to July, from $109,119 last year driven by an increase in revenue and savings on finance costs.
HARARE, September 5 (The Source) – Zimbabwe’s retailers have warned of possible food shortages as it becomes increasingly difficult for the country to process foreign payments to raw material suppliers outside country, with the backlog estimated at $180 million.