CHAIRPERSON’S REPORT Please receive this audit report for the year ended 31 December 2020. I would also like to highlight that we have finally succeeded in aligning our year end timelines. Many thanks to the Management team for working hard in this regard. Financial Perfomance Given continuing investments to transform BBS Limited and challenging economic [...]
Financial Reporting in Hyper Inflationary Economies - IAS 29 We are operating in a hyper inflationary environment and the entity will continue reporting in compliance with IAS 29. However, for this trading update, the Group reported based on historical cost. Group Performance The Group has not been spared from the impact of diminishing consumer purchasing [...]
At a meeting held on 27 February 2020, your Board resolved that a final dividend of ZWL 4.2 million being ZWL 0.34 cents per share be declared from the profits for the year ended 31 December 2019. The dividend will be payable on or about 3 July 2020 to all shareholders of the Group registered [...]
Notice is hereby given that for the year ended 30 September 2019, the board declared a final dividend of 1 cent per share with a scrip option payable in respect of all the ordinary shares of the Company. This dividend will be payable in full to all Shareholders of the Company registered at the close [...]
The Group performed commendably during the year under review, despite the difficult operating environment, and the numbers we are reporting suggest that we have been able to further increase our market share. Although year on year growth was slower than we planned, we still recorded an increase in total volumes traded in our Electrosales Hardware [...]
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 [...]
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 [...]
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 [...]
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 [...]
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. [...]