The local unit of global cement maker LafargeHolcim has reported an after tax loss of $1.9 million for the full-year to 31 December from a net profit of $80 000 the previous year after opting to pay off debts.
Revenue for the year increased marginally by two percent from $60.4 million to $61.5 million.
Cement sales grew five percent as the company secured new market segments.
The company generated $6 million from operating activities, an increase of 72 percent over the previous year.
“We expect the general trading environment to exert pressure on prices due to ongoing economic stress. However we anticipate improved profitability in 2016 mainly driven by operation costs reduction measures and targeted strategic marketing initiatives,” said company chair Muchadei Masunda.
Lafarge managed to pay off all bank loans amounting to $4.8 million during the year.-The Source
(27 VIEWS)
This post was last modified on April 25, 2016 12:31 pm
The gazetting into law of the payment of quarterly taxes on a 50-50 basis in…
Zimbabwe has today unveiled a ZiG276.4 billion budget for 2025 during which it expects the…
Zimbabwe President Emmerson Mnangagwa has repeatedly stated that he is not going to contest a…
The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…
An Indian think tank has described Starlink, a satellite internet service provider which recently entered…
Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…