Astra Industries, which was one of the best performers on the Zimbabwe Stock Exchange last year, had a good year ending August with sales improving by 318 percent and net profit by 466 percent.
Though it was adversely affected by price controls which were in force from November last year to May, the company saw its sales increase from $7.6 billion to $31.7 billion while net profit rose from $1.6 billion to $8.8 billion.
The company says though it expects margins to improve because of the lifting of price controls, it does not expect any significant growth in volumes.
(35 VIEWS)
The Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met on Friday last week, says…
Zimbabwe’s new currency further weakened to 13.4407 to the United States dollar today down from…
The United States lost its place as the most influential global power in Africa last…
The Reserve Bank of Zimbabwe governor John Mushayavanhu says street money changers who cash in…
The Zimbabwe International Trade Fair (ZITF) has announced an ambitious long-term plan to turn the…
Zimbabwe’s new currency today fell against the United States for the first time since its…