MedTech Holdings has reported a 26 percent drop in revenue to $9.8 million in the full year to December 2016 from $13.2 million the prior year as demand continues to fall.
MedTech is a holding company with interests in manufacturing, marketing and distribution of health, hygiene, beauty and pharmaceutical products.
The company recorded a loss before tax of $275 486 compared to a profit before tax of $476 914 in 2015.
Operating loss declined from $378 825 the prior year to $216 778 in 2016 while loss from continuing operations was $232 476 from a profit of $231 368.
The group’s net financing costs worsened to $58 708 from a net finance income of $855 739.
Medtech assets stood at $1.1 million from $526 306 in 2015.
“The trading environment and macro economic situation remains uncertain and is not expected to improve in the year 2017. Therefore, focus will continue to be placed on maintaining sales and strict cost control,” said chairperson, Rose Mazula.- The Source
(34 VIEWS)
This post was last modified on April 1, 2017 2:51 pm
Ten African countries are amongst the biggest debtors to China, but Zimbabwe is not among…
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…