The 10 counters driving the Zimbabwe stock market bull-run


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5. PADENGA

Padenga has a market value of $428.8 million, constituting 5.28 percent of the ZSE total market capitalisation.

In the year to date, the company has advanced 394.88 percent to close at 79.18 cents on Friday.

Padenga reported a 23 percent increase in after tax profit to $8.9 million in the full year to December 2016 on the back of increased revenue.

The group’s revenue grew 13.75 percent from $27.5 million in the preceding year to $31.3 million.

In the previous financial year, the number of crocodiles culled increased by 4 percent to 47 806 while skin quality grade achieved improved from 96 percent first grade to 97 percent.

The total number of grower crocodiles on the ground dropped from 161 572 to 150 172 in the previous financial year as the company bids to achieve a sustained annual production of 46 000 skins.

Total assets increased by 16 percent to $71.5 million in the previous financial year as the group expanded the capacity at Lone Star Alligator Farms in Texas.

Six additional production barns were constructed in the previous year, thereby doubling the production capacity.

Resultantly, the group’s capital expenditure stood at $4.3 million from $2.4 million spent in the previous year.

The group declared a final dividend of 83 cents per share.

 

6. B.A.T.

Cigarette maker BAT is one of the heavyweight counters on the local bourse and its market value at $374.5 million, constitutes 4.63 percent of the ZSE total market capitalisation.

In the year to date, the company has advanced 19.3 percent to 1 819.84 cents.

The company’s net income rose 27 percent to $4.6 million in the half-year to June, from $3.6 million achieved in the comparable period last year driven by improved efficiencies, although sales were flat, with a slight increase in low priced segment brands.

Its total assets stood at $35.1 million as at June 30 and has a market share of 78 percent..

Management said cumulative dividends owed to foreign investors stood at $8 million and the company expects the trading environment to remain challenging, particularly in view of the ongoing dollar note shortage and challenges to settle foreign payments .

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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