Zimplats in record US$1.4 billion revenue, US$563.1 million profit


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Zimplats had a record US$1.4 billion revenue for the year ended June 2021, surpassing the US$1 billion mark for the first time in its 20-year history. This was 56% higher than the US$868.9 million it earned last year.

According to its latest annual report, Zimplats says profit before tax was US$800.5 million up from US$374.2 million last year.

Net profit rose from US$261.8 million last year to US$563.1 million.

Company chief executive Alex Mhembere said Zimplats paid US$404.6 million in taxes and royalties to the government, contributing to much-needed foreign currency.

Zimplats, which employs 7 000 workers, said all its employees and those of its contractors had been vaccinated.

It said it only had 35 coronavirus cases but no deaths.

Only one employee died as a result of an accident at Ngwarati Mine in February.

Board chairman Sydney Mufamadi said the future for Zimplats was bright and the group was investigating options for expansion and investment opportunities in Zimbabwe.

 

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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.

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