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.
Although its net profit increased more than five-fold from $45.7 million to $269.3 million, and its sales shot up from $1.3 billion to $3.2 billion, Powerspeed Electrical says the figures were primarily a result of the decline in the Zimbabwe dollar.
Executives from Econet Wireless New Zealand which wants to be that country’s third mobile phone operator are in South Africa putting together a funding plan to get the network off the ground.
With half the nation reported to be facing food shortages, the latest figures released by the Famine Early Warning Systems Network (FEWSNet) demand that the government should set up an independent investigation into where imported maize is going.