Axia Corp H1Dec 2021 operating margins rose over H1 Dec 2020

Published On: April 6, 2022By Tags: Southern-Africa

Axia Corporation H1 Dec 2021 earnings in ZW$ were up 83% against an inflation rate of 61%. In US$ terms earnings were US$4.4m up from US$3.8m in the year prior.

Highlights:

  • H1 Dec 2021 sales were up 70% relative to an inflation rate of 61%.
  • H1 Dec 2021 operating margins rose to 24% from 21% in H1 Dec 2020.
  • Good debt position reflected by a low long-term debt/equity ratio of 3% and a high interest cover of 18.0 times.
  • Despite Covid-19 limitations, TVSH volumes increased. However, Zimbabwe distribution volumes fell 22% but grew regionally. Vehicle spares distribution grew 10% in volume terms.
  • Outlook: Management positive and group is continuing its on-going investment programme.

Axia’s share price is at an all-time high.

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About the Author: Hartland-Peel Africa Equity Research

Sub-Saharan Africa ex SA: Equity, debt and FX research covering sixteen countries and advising institutional investors. Proprietary data base of sixteen African stock markets, 250+ companies which is one of the most extensive and complete. New issues, IPO’s and distribution of equity on privatisation. Development of lending and corporate finance opportunities for the bank, privatisation and asset management. An ‘A’ rated equity analyst by South African institutional investors as polled by the Financial Mail in 1998 and 1999.

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