Zimbabwe’s state owned bank POSB reported an 8 percent decline in after-tax profit to $3.83 million in the six months to June from $4.17 million in the comparable period last year, as the bank’s revenue took a dip.
It must be a sore point for Zimbabwean President Robert Mugabe and his wife Grace that the couple’s two sons show none of the veteran leader’s political instincts.
Spirit and winemaker, African Distillers’ after tax profit more than doubled from $1.11 million last year to $2.76 million in the six months to June, driven by a 13 percent increase in revenue.
Zimre Property Investments has reported a 7 percent decline in revenue to $2.76 million in the six month period to June, weighed down by a 14 percent fall in rental income as the property sector remained subdued.
Singer-businessman Energy Mutodi was yesterday granted $100 bail and was asked to report to police every Friday.
Dairibord Holdings narrowed its loss in the half year period to June to $845 000 from $1.9 million in the same period last year on improved revenue and a reduction in costs.