Axia continues to scan for investment opportunities, synergistic and complimentary businesses

Read the Axia Corporation Limited 2018 financial report

Axia Corporation Limited (AXIA.zw), listed on the Zimbabwe Stock Exchange has issued the following assessment of its future earnings prospects, as at 30 June 2018, as part of its investor relations reporting:

PROSPECTS

The Group is hopeful that in the medium to long term, the country will restore business confidence and offer good prospects for sustainable growth despite the current prevailing economic realities. The Group will continue to manage inventory levels and meet its foreign payments timeously.

The Group maintains its goal to achieve organic and acquisitive growth, improve margins, grow volumes, generate free cash and continue to operate profitably and should thus create value for all stakeholders. Therefore, the Group will continue to scan the market for investment opportunities, to expand existing operations and to add synergistic and complimentary businesses in the speciality retail space as well as backward integrate into manufacturing to establish a ready export market through retail offering in the region as well as to improve its local penetration.

DIVIDEND

The Board has declared a final dividend of 0.32 US cents per share in respect of all ordinary shares of the Company. The dividend is payable in respect of the financial year ended 30 June 2018 and will be paid in full to all shareholders of the Company registered at close of business on the 12th of October 2018. The payment of this dividend will take place on or around the 23rd of October 2018. The shares of the Company will be traded cum-dividend on the Zimbabwe Stock Exchange up to the market day of 9th of October and ex-dividend as from the 10th of October 2018.

The Board has also declared a final dividend totalling US$86,000 to the Axia Corporation Employee Share Trust (Private) Limited which will be paid on the same date.