Art narrows loss


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Manufacturing concern Amalgamated Regional Trading (Art) has narrowed its after tax loss to $114 000 for the half-year to March from $1.1 million recorded last year on rising cost of sales despite a modest increase in revenue.

Cost of sales advanced to $9.9 million despite a five percent growth in revenue to $14.8 million

The group’s pen-making unit Eversharp posted a profit before tax of $176 000 following the commissioning of an automatic pen assembly and ink filling machines last year.

The batteries division posted a profit before tax of $370 000 buoyed by improved sales of solar batteries as the country battles with an energy deficit.

Going forward, the group plans to automate the manufacturing businesses in the medium term and plans to increase capacity at Eversharp.-The Source

(181 VIEWS)

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Charles Rukuni
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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