The bull run on the Zimbabwe Stock Exchange which began in January and was temporarily halted by President Robert Mugabe’s remarks that judges who were questioning the government’s illegal detention of two journalists should resign seems to be back on track and there is wide speculation the key industrial index could reach 8000 points.
MacMed, the leading supplier of medical, surgical supplies, services and equipment to the medical industry, which was only listed in July last year has posted good results for the year ending December 1998 and expects its turnover for the current year to nearly double to $600 million.
Now 75, but with three more years in office, President Mugabe has once again dodged the question about when he will retire.
Watching Herald editor Bornwell Chakaodza make a spectacle of himself during the televised interview of President Mugabe on the eve of his 75th birthday, those who have been reading his editorials of late must have heaved a sigh of relief.
Schweppes Zimbabwe Limited, which is still assessing the impact of the global sale of Schweppes brands to Coca Cola outside the United States, France and South Africa, had satisfactory results for the year ending January 2, 1999 which saw turnover increase by 44.7 percent from $194 million to $280.8 million and net profit increase by 51.2 percent from $15.6 million to $23.5 million.
Transport group, Clan Holdings, in what is says was one of the most difficult years in the recent history of the company, saw its earnings only grow by 8.8 percent in the year ending December 1998 but adds that the growth showed a slight recovery in the second six months after an 11 percent reduction in profits in the first half ending June.