AfricanFinancials Digital Team

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So far AfricanFinancials Digital Team has created 124 blog entries.

November 2019

African Distillers Trading Update and delay in publication of Q1 2020 interim report

2019-11-15T11:22:33+02:00November 15th, 2019|

Trading Environment Macro-economic conditions continue to be challenging, characterised by reduced consumer disposable incomes, thereby compromising product demand. Foreign currency shortages persisted in the period, impacting on the Company's ability to fully supply the market. The exchange rate movements and inflation resulted in high costs which in turn exerted pressure on selling prices. Trading summary [...]

Masimba Holdings Q3 2019 Trading Update

2019-11-15T11:14:20+02:00November 15th, 2019|

OPERATING ENVIRONMENT The economy has continued to experience significant volatility, as evidenced by the following developments in the market: Removal of the multi-currency regime and the introduction of the Zimbabwe Dollar (ZWL$) as the sole legal tender. Persistent shortages of foreign currency and the continued weakening of the ZWL$ to the US$ exchange rate, being [...]

ZB Financial Holdings: Delay in publication of Q3 2019 Interim Report

2019-11-15T11:02:13+02:00November 15th, 2019|

In terms of section 35 (5) of the Securities and Exchange (Zimbabwe Stock Exchange Listings Requirements) Rules 2019, listed companies are required to publish a third-quarter interim report on their websites and on the Zimbabwe Stock Exchange (ZSE) Data Portal within 45 days of the end of that quarter. Therefore, ZB Financial Holdings Limited (the [...]

AXIA Corporation Trading Update: Q1 ended 30 September 2019

2019-11-15T10:33:42+02:00November 15th, 2019|

The operating environment in Zimbabwe continued to be difficult with declining disposable income, inflationary pressures and foreign currency shortages. The Group, therefore, had to frequently adjust prices which had an adverse effect on demand and volumes. In historical cost terms, revenues and headline earnings per share increased by more than 300% and 700% respectively. TV [...]

GetBucks: Delay in release of 2019 Q1 interim results

2019-11-15T10:42:56+02:00November 15th, 2019|

Shareholders are advised that publication of 2019 Q1 interim financial results as required by the Zimbabwe Stock Exchange ("ZSE") shall be delayed. The Public Accountants and Auditors Board of Zimbabwe ("PAAB") issued a pronouncement on 11 October 2019 stating that for periods beginning July I, 2019 all Zimbabwean companies were required to apply hyperinflation accounting. [...]

Padenga Q3 2019 Trading Update: Acquired 50.1% shareholding in Dallaglio Investments

2019-11-15T10:52:35+02:00November 15th, 2019|

Q3 PERFORMANCE AND KEY DEVELOPMENTS Harvesting Offtake and Skin Sales In the Nile Crocodile operation, a total of 8,458 animals were harvested in the quarter bringing the year-to-date harvest total to 13,959 animals. Full year harvest target remains at 46,000 animals in the 30/40 size range. A total of 14,321 skins were graded and sold [...]

National Foods Holdings Q1 2020 Trading Update: Volumes 36% below the same period last year

2019-11-13T16:37:02+02:00November 13th, 2019|

Q1 Volumes were very subdued, closing 36% below the same period last year. The sustained inflation further restrained consumer spending power, impacting volumes across all categories: 2.1 Flour volumes were most heavily impacted, closing 50% below last year, on the back of intermittent supply and increased cost of wheat. 2.2 Volume performance in the remaining [...]

Pretoria Portland Cement: Trading Statement

2019-11-13T01:59:23+02:00November 13th, 2019|

In terms of the Listing Requirements of the JSE Limited, companies are required to publish a Trading Statement as soon as they become reasonably certain that the financial results for the period to be reported will differ by more than 20% from those of the previous corresponding period. PPC is finalising its interim results for [...]