Despite the tales of doom and gloom in the Zimbabwe economy, the Zimbabwe investments of TA Holdings, which is in the insurance and hotel industries, boosted the company’s profits with earnings per share more than doubling from 0.78 cents per share to 1.59 cents per share.
Its investments outside the country fell by a whopping 77 percent.
According to the company’s half year results for the period ending June, Zimbabwe investments turned around from a loss of $800 000 last year to a profit of $2.6 million. Investments outside the country dropped from a profit of $3.6 million to only $800 0000.
The company, however, says investment income growth for the next six months is expected to be flat.