Apex Corporation, one of the best performers on the Zimbabwe Stock Exchange so far this year, had a good first half with turnover for the six months to April surpassing that for the entire year ending October and nearly five times that for the first half of last year.
Phoenix Consolidated Industries which contributed more than half of the revenue of Apex Corporation had a good first half with only one business unit, William Smith & Gourock suffering from lack of major contractual orders.
Though it says its operating profits are dominated by Agriflora, its Zambian horticulture export business whose earnings are concentrated in the second half of the year, TZI still managed an eight-fold increase in net profit and an 11-fold increase in net profit.
Newspapers in Zimbabwe are either reducing their sizes or their circulations are shrinking while declining incomes are forcing people to use less toilet tissue.
Horticultural group, Ariston Holdings, made double the profit it made for the entire year ending September last year in the first six months of its current financial year.