Padenga FY profit up 23pct

HARARE, March 27 (The Source) – Padenga Holdings on Monday reported a 23 percent  increase in after tax profit to  $8,9 million on the back of increased revenue. Revenue increased by 13,75  percent from $27,5 million in the preceding year to $31,3 million. Operating profit… Read More

NMB FY profit falls 8pct

HARARE, March 24  (The Source) – NMB Holdings on Friday reported a 7,8 percent  drop in after-tax profit to $5 million in the full-year to December citing ‘extreme pressure’ from limits placed on interest rate charges and fees. The central bank in 2015 capped interest rates… Read More

Zimpapers FY profit down 26pct

HARARE, March 24 (The Source) – Zimbabwe’s largest media house, Zimpapers, on Friday reported that its net profit for the year to December 2016 fell by a quarter to $2,02 million from $2,7 million in the prior year. Revenue was down 6,3 percent to $37,6… Read More

Government overspent by 42.3pct in Q4

HARARE, March 24  (The Source) – Government expenditure for the fourth quarter amounted to $1,432 billion against a target of $1,006 billion, resulting in an expenditure overrun of 42,3 percent, the latest Treasury bulletin shows. In the fourth quarter, recurrent expenditure was were $1,025 billion,… Read More

Ecobank after-tax profit up 91pct

HARARE, March 23 (The Source) – Ecobank Zimbabwe reported a 91 percent  increase in after-tax profit to $9,9 million in the full year to December on the back of increased net interest income and operational efficiency. “Net interest income grew by 10 percent on the… Read More

POSB after tax-profit up 22pct

HARARE, March 23 (The Source) – People’s Own Savings Bank (POSB) reported a 22 percent  increase in after-tax profit to $9,68 million in the full year to December on increased revenue and cost containment measures. Net interest income increased by 28 percent from $9,5 million… Read More