CAFCA (Zimbabwe) FY2021 volumes up 49% to 2604 tons

By Published On: November 23rd, 2021Categories: Corporate announcement, Earnings

CAFCA Limited (CAFCA.zw) 2021 Abridged Report

Commentary and overview of results

Volumes

Volumes for the year ended 30 September 2021 at 2604 tons increased 49% on the previous year. Local sales increased 57% on the back of a post COVID improvement in the economy whilst the export sales improved 16%.

Turnover

Turnover in historical cost terms improved by 292% of which 49% can be attributable to volume increases and the balance to sales mix, the increase in the price of copper and some to inflation.

Exports are translated at the auction exchange rate ruling at the time of invoicing.

Profitability

In historical terms profit before tax at 29% of turnover is well above our normal benchmark and mainly attributable to the impact of holding high manufactured stocks made at old prices.

Statement of Financial Position

In historical terms the balance sheet has grown during the year by $656.3 million with $566.4 million of the profit be