By focussing on profitability rather than turnover, CAPS Holdings managed to turn around from a loss of $115.3 million to a profit of $10.8 billion.
CFX Merchant Bank, which recently merged with troubled Century Bank, had a good performance last year despite the turmoil in the financial sector.
Retail group Tedco Limited, which changed its financial year-end from September to December,had one of the worst Christmas trading periods in its history, it says in its report for the 15 months ending December.
A loan of US$5.3 million from the Africa Export Import Bank helped resuscitate operations at Wankie Colliery boosting production from 30 percent to 75 percent by December.
Portland Holdings’s cement sales dropped by almost half in the six months ending March as the situation in Zimbabwe continued to deteriorate with the economy struggling with both hyperinflation and a shortage of foreign currency.
Increased demand for stainless steel products in China, one of the world’s fastest expanding economies, helped boost profits for Bindura Nickel Corporation, once owned by the giant Anglo-American Corporation but now under an indigenous consortium which includes Zimbabwean and Congolese businessmen.