Increased battery sales lift Art in F17

00Increased battery sales lift Art in F17 HARARE – Profitability across Art Corporation’s business units lifted the Group’s overall performance for the half year ended 31 March 2017 with the topline rising 7.60% above prior year to $15.20mln. Group chairman Thomas Wushe, in a statement accompanying the interim financials, said revenue was mainly driven by…

Select heavyweights sustain ZSE’s rise but turnover remains low

00Select heavyweights sustain ZSE’s rise but turnover remains low HARARE – The local bourse continued to rally as the main stream Index extended its bull run adding a further 1.14 points to close at 162.34 Bindura traded 0.05c firmer with 8,195 shares changing hands at 3c. Resultantly, the Minings index inched higher by 0.40 points…

Local Banks holding 2 % cash reserves

00Local Banks holding 2 % cash reserves HARARE- Local banks hold 2% cash reserves in vaults as the bond notes flight persists amid revelations that the surrogate currency is now found in neighbouring countries, a central bank official has said. Deputy Reserve Bank Governor, Kupukile Mlambo at a retailers Indaba in Harare highlighted how cash…

Masimba records 70% growth in Q1

00Masimba records 70% growth in Q1 HARARE- Masimba Holdings has decided to dispose of its 50% shareholding in Reinforcing Steel Contractors of Zimbabwe (RSCZ) to focus on the construction growth prospects currently supported by a $23mln confirmed order book. Kosto Holdings Limited of Mauritius holds the remainder 50% shareholding, RSCZ net assets position as at…

ZSE inches higher but ATS challenges delay trading

00ZSE inches higher but ATS challenges delay trading  HARARE – The stock market opened late afternoon on Tuesday due to a technical challenge with the Automated Trading System. Trading only opened way after lunch but inspite the delays, the Industrials Index continued to inch higher. At the close of trades, the mainstream Index added 0.81…

Zimplow units in improved sales growth in 4 months to April

00Zimplow units in improved sales growth in 4 months to April  HARARE –Firm producer prices for maize, cotton and wheat announced by Government have positively affected Zimplow Holdings as this has improved disposable income among smallholder farmers and commercial farmers. Group CE Mark Hulett told the AGM that turnover for the year to April was…

ZSE bull run continues albeit in subdued trades

00ZSE bull run continues albeit in subdued trades HARARE- The Zimbabwe Stock Exchange opened the week higher albeit marginally as investors continue to scrap for the few shares available on the market. Big caps Old Mutual and Econet continued on their bull run adding 0.75c and 0.05c respectively.  The Insurance heavyweight traded at 377c with…

Credit Registry loads 85% of total loans since January

00Credit Registry loads 85% of total loans since January HARARE – The Reserve Bank of Zimbabwe (RBZ)’s Credit Registry system which became operational in January 2017 has to date loaded 84.75 % of total loans extended by the banking sector in its data base. According to a press statement on the update of ease of…

Mazimbe to retire from Astra Industries, to be succeeded by Nhende

00Mazimbe to retire from Astra Industries, to be succeeded by Nhende HARARE – Astra Industries managing director Mackenzie Mazimbe is set to retire from the group at the end of this month, after serving in that capacity since 2004. He will be succeeded by Herritage Nhende, who is currently the financial director, effective June 1….

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