General Beltings Holdings narrowed its net loss for the six months to June by nearly a third to $254 230 from $360 380 in the prior comparable period chiefly due to lower operating expenses.
Turnall Holdings says it is negotiating with banks to conclude a scheme of arrangement which will see the manufacturer of building materials restructure its debt. Acting finance director, Samson Mavende told analysts that the scheme of is expected to be complete by December.
Regional seed producer, SeedCo expects its sales and earnings to grow this year on positive weather forecasts and continuation of government’s farmer support programme.
Fidelity Life Assurance’s after tax profit doubled to $1.98 million in the six months to June from $985 253 in the comparable period last year driven by investment income and cost containment.
Medtech Holdings reported improved revenues and margins during the half-year period to June 30, but profitability was weighed down by a net exchange rate loss of $996 000.
The present crisis that Zimbabwe is facing is a result of government’s extravagance as it is spending money that it does not have, Bulawayo South legislator Eddie Cross says.