The decline in disposable incomes of consumers saw volumes at Cairns Foods and ME Charhons decline from December to February, but Cairns Holdings still managed to increase its revenue by 664 percent from $9.2 billion last year to $70.4 billion in the six months to February.
The, company, however, says the economy continues to be in decline. Domestic sales are therefore likely to remain low.
According to its results, operating profit increased from $2.7 billion to $25.3 billion while net profit shot up from nearly $2 billion to $11.6 billion.
ME Charhon contributed 24 percent of turnover, an improvement from 20 percent.
Paprika’s contribution remained at 5 percent. Though Paprika was refurbished to world class standards after its plant had been damaged by fire in April last year, it was now facing viability problems because of the poor exchange rate price.
(36 VIEWS)
A friend who knows about my legal battle with Zimbabwe’s richest man, Strive Masiyiwa, way…
Britain says amendment of the Zimbabwe constitution is a sovereign, legislative matter for Zimbabwe to…
It is now 47 years since I wrote the short story below for a South…
Zimbabwe has released its 2026 monetary policy statement in which it seeks to stabilise its…
Far from it, on paper that is. Ignatius Chombo was one of the longest serving…
Zimbabwe on Thursday announced a ZiG290.9 billion budget with revenue expected to be ZiG287.6 billion,…