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.
HARARE, August 3 (The Source) – Internet and mobile based transactions reached $1,56 billion in May, nearly double from $814 million in January driven by massive uptake of the electronic payments. “This has gone a long way at reducing reliance on hard cash by business… Read More
By Simbarashe Zishiri, HARARE, July 31 (The Source) – The Zimbabwe Stock Exchange is struggling to bring order to the bourse after gloves came off in the fight for control of agro-industrial group, CFI Holdings pitting British tycoon Nicholas Van Hoogstraten’s Messina Investments and Zimre’s… Read More
HARARE, July 27 (The Source) – Retail group, OK Zimbabwe says revenue growth of 19 percent during the first three months of its financial year to June is ahead of operating costs and bodes well for its prospects for a profit in the interim. Chief… Read More
HARARE, July 24 (The Source) – Fast foods group Simbisa Brands says it’s seeking regulatory and shareholder approvals for a secondary listing on the London Stock Exchange Alternative Investments Markets (AIM) to access additional funding for expansion.
HARARE, July 19 (The Source) – Hardware company, Fabco Private Limited, is seeking new investors to turnaround the company after creditors voted to put it under final judicial management.
BULAWAYO, June 19 (The Source) —Clothing retail chain Edgars Stores says the rapid increase in unregulated commerce in the country is hurting its operations as it is made to compete with businesses that do not pay tax. Edgars – a local unit of South Africa’s… Read More
BULAWAYO, June 7 (The Source) — Clothing retail chain Edgars Stores’ profit-after-tax nearly trebled to $1 million in the year-to-date, from $35,000 last year and 200 percent above budget due to lower costs. In a trading update at the group’s annual general meeting on Wednesday… Read More
HARARE, June 2 (The Source) – Hospitality and retail group Meikles Limited’s topline grew one percent to $457,6 million in the full year to March, driven by an impressive performance of its retail unit as revenues from other segments plummeted. TM/Pick n Pay Supermarkets contributed… Read More
HARARE, June 2 (The Source) – Electrical goods manufacturer and retailer, Powerspeed’s net income for the interim period to March more than doubled to $580,673 from $161,595 recorded in the comparable period last year on increased revenue and cost containment measures. Turnover was up 13… Read More
By Simbarashe Zishiri, HARARE, May 31 (The Source) – Zimbabwe is good for business. Retail business. The country is frequently listed among treacherous economies where only intrepid investors dare tread, but those who have bet on Zimbabwe’s retail sector appear to be extracting good value.… Read More
HARARE, May 23 (The Source) – Zimbabwe’s largest retail operator, OK Zimbabwe reported an 800 percent increase in net income to $6,1 million in the year to March from $700,000 last year on improved revenue. OK Zimbabwe rebounded from a collapse in the 2016 full… Read More
By Simbarashe Zishiri, HARARE, May 17 (The Source) – Hospitality and retail group Meikles Limited has reached an agreement with the government over a Reserve Bank of Zimbabwe debt which has been outstanding for two decades, chairman John Moxon said on Wednesday. The Meikles debt… Read More
HARARE, May 10 (The Source) – Delta Corporation on Wednesday reported a 10 percent fall in revenue to $483 million in the full year to March 31, compared to $538 million in the previous year as demand remained depressed in the face of falling incomes.… Read More