CAPS back in black


Pharmaceutical company CAPS Holdings is now out of the doldrums. It made a net profit of $2 billion in the first half of this year, a turn around from a loss of $596.5 million during the first half of last year. This was a four-fold increase on the net profit it made at the end of last year.

According to the company’s results for the six months to the end of June, the company says all its subsidiaries are operating at a profit for the first time in years. Sales increased from $2.6 billion to $10 billion. Business was tough in the first quarter because of price controls but there was a steady increase in the second half.

CAPS South Africa saw its turnover for the six months increase by 97 percent while CAPS Botswana returned to profitability. The company says it is now well positioned to deliver a strong performance in the second half. It will continue to focus on the export business to reduce its exposure to the shrinking domestic incomes. It is also pursuing various strategic alliances and has launched a new range of products called Essential to increase its share in the consumer market.


Don't be shellfish... Please SHAREShare on google
Share on twitter
Share on facebook
Share on linkedin
Share on email
Share on print

Like it? Share with your friends!

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.


Your email address will not be published. Required fields are marked *