Strong demand for products of Cairns Holdings saw the company’s sales increase more than four-fold while net profit increased nearly ten-fold during the year ending August but volumes only increased by 1 percent.
Price controls, which kept the price of seed maize at pre-June 2001 levels, saw the net profit of SeedCo, one of the country’s biggest seed producers, plummet by 63 percent from $385.2 million to $142.9 million.
Astra Industries, the star performer on the Zimbabwe Stock Exchange whose share price had soared by more than 2 700 percent by the third week of November, had a sterling performance during the year ending August with net profit increasing by 604 percent and turnover by 212 percent.
Intermarket Building Society, which has taken over the former Founders Building Society, has taken advantage of the booming property business by launching a facility for Zimbabweans living abroad, who most people believe have pushed property prices up because of the weakening Zimbabwe dollar.
Horticultural company, Interfresh had excellent results in the nine months to September with sales going up 238 percent to $3.9 billion, more than the total sales for last year which stood at $3.6 billion.