Axia says PAT flat in Q1

HARARE, November 29 (The Source) – Axia Corporation says net profit for its first quarter as a standalone company  is flat on same level as last year while overall group revenue increased 12 percent. Axia, the logistics, distribution and retail unit was unbundled in May… Read More

Simbisa Brands outlets up 10pct in Q1

HARARE, November 25 (The Source) –  Fast foods group Simbisa Brands says it has increased the number of counters by 10 percent in the first quarter to September and plans further expansion, locally and in the region. Simbisa, Innscor Africa’s quick service restaurant unit, listed… Read More

OK Zimbabwe PAT up 90pct in H1

HARARE, November 4 (The Source) – Retailer, OK Zimbabwe’s after tax profit for the half-year period to 30 September 2016 increased 87.1 percent to $2,3 million from $1,2 million in 2015 largely on lower costs. Chief executive Willard Zireva told an analyst briefing late Thursday… Read More

Econet H1 profit down 37 percent

HARARE, October 31 (The Source) – Zimbabwe’s largest telecommunications company, Econet Wireless, has reported a 37 percent decline in after-tax profit in the half year ended 31 August 2016, as revenues continue to decrease in a worsening economy. In results released on Monday, Econet said… Read More