Agricultural inputs company, Chemco has lamented the introduction of price controls and the recent changes in foreign currency regulations saying they will hamper growth of the company.
Price controls that were extended to cover almost all basic commodities towards the end of last year adversely affected packaging company Hunyani Holdings because of a decline in demand for commercial packaging.
Apex Corporation, one of the top five performers on the Zimbabwe Stock Exchange, whose share price soared $2.35 to $50 a share last year, had an excellent performance during the year ending October with its sales more than doubling from $2.15 billion to $4.33 billion and net profit increasing more than ten fold from $56.9 million to $633.4 million.
Phoenix Consolidated Industries in which Apex Corporation has a 51 percent stake had what the company termed impressive results but sales just more than doubled from $991.6 million to $2.5 billion while net profit trebled from $108.2 million to $466 million.
Heavy engineering group Gulliver Consolidated says it has now consolidated its operations focussing on its core business of steel and steel engineering and it managed to achieve results that were ahead of inflation.