HARARE, September 22 (The Source) – Listed media group, Zimpapers on Friday reported a net profit growth of 93 percent to $1 million for the six months to June from $570,520 recorded in the same period last year despite a fall in revenue.
BULAWAYO, May 23 (The Source) – Textile firm Merlin’s judicial manager is still hopeful an investor to rescue the company will be found before the company’s June 30 liquidation deadline. Merlin, one of Zimbabwe’s oldest textile firms, was placed under provisional administration in 2011, mirroring… Read More
HARARE, August 28 (The Source) – Zimbabwe’s largest media house, Zimpapers narrowed its loss for the half-year ended June 30 to $20,000 from $1,4 million, as advertising revenue and sales plunged while finance costs remained high and the economic environment worsened, the company said on… Read More
By Chipo Musoko, HARARE, March 10 (The Source) – The major shareholder of struggling Bulawayo-based textile firm Merlin and the judicial manager are fighting over control of the company which is struggling to attract new investors over a decade after surviving liquidation. The company suspended production… Read More
BULAWAYO, March 6 (The Source) – Bulawayo-based textile firm Merlin is close to securing a $1 million funding under the Distressed Industries and Marginalised Areas Fund (Dimaf) to resume production while scouting for credible investors, the judicial manager has said. The judicial manager, Cecil Madondo… Read More
BULAWAYO, December 11 (The Source) – Bulawayo-based textile firm Merlin has secured an investor to pour in $30 million to resuscitate operations at the troubled textile company, major shareholder Delma Lupepe has said. The company was placed under provisional judicial management in 2011. Last month,… Read More
By Chipo Musoko, HARARE, December 8 (The Source) – Bulawayo-based textile company, Merlin which survived liquidation over a decade ago requires at least $1.2 million to revive its operations after it was placed under liquidation for the second time, judicial manager Cecil Madondo said. The… Read More