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National Foods (Zimbabwe) records a 11% volume increase for the 9 months ended March 2022

May 18th, 2022|

Highlights: National Foods Holdings Limited recorded a 11% volume increase for the 9 months ended March 2022 spurred by : Animal feed. Volume up 16%, poultry strong, Rice, salt. Volume up 41%. Snacks. Volumes up 33%. Cereals. Volumes up 45%. Maize. Volumes down 11% following good harvest. Outlook: Management positive and group is continuing its [...]

Equity Bank records Q1 2022 earnings of US$100m, up 34% from year prior

May 18th, 2022|

Equity Bank records Q1 2022 attributable earnings of US$100m, up 34% from US$79m year prior. Highlights: Equity Bank realised an annualised Return on Equity of 26% in Q1 2022. Profit before tax, Return on Assets (ROA) and percentange country contribution: PBT - US$m Kenya EA ex Kenya DRC Q1 2022 $93.0 $25.6 $15.7 Q1 2021 [...]

NMB Bank Tanzania Q1 2022 attributable earnings up 55% at US$44m

May 17th, 2022|

NMB Bank Tanzania recorded Q1 2022 attributable earnings of US$44m, up 55% from year prior. Highlights: NMB Bank realised an annualised Return on Equity of 28% in Q1 2022. Net interest margin/total assets of 8.4% relative to 8.7% on loans up 16% at US$2.1bn. Payroll deduction loans amounted to 65% of lending. Non-performing loans declined [...]

Cresta Marakanelo 2021 sales revenue up 7% at US$18.4m

April 12th, 2022|

Cresta Marakanelo 2021 sales revenue were up 7% to US$18.4m over 2020. Highlights: The good news is that since the lifting of Covid restrictions in October 2021, Cresta’s H2 2021 losses were 20% of the H1 2021 losses and sales revenues increased 24% in Q4 2021 vs Q4 2020. 2021 operating margins improved to -13% [...]

Axia Corp H1Dec 2021 operating margins rose over H1 Dec 2020

April 6th, 2022|

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% [...]

Simbisa Brands H1 2022 FX gains surge to US$5.8m vs US$2.5m year prior

April 5th, 2022|

Simbisa Brands H1 Dec 2021 earnings in ZM$ were up 153% against an inflation rate of 61%. In US$ terms earnings were US$6.9m up from US$3.6m in H1 2021. Highlights: FX gains increased in H1 2022 to US$5.8m compared to US$2.5m in H1 2021. H1 Dec 2021 sales were up 109% against inflation of 61%. [...]

National Foods H1 Dec. 2021 earnings up 26%

March 31st, 2022|

National Foods H1 December 2021 earnings were up 26% against an inflation rate of 61% as finance costs and FX losses increased and the contribution from associates fell. However, in US$ terms earnings declined to US$7.2m from US$9.2m year prior. Highlights: H1 Dec 2021 sales were up 96% relative inflation rate of 61%. Operating margins [...]

Innscor Africa H1 Dec. 2021 attributable earnings up 25% at US$22m

March 30th, 2022|

Innscor Africa's attributable earnings were up 25% to US$22m in H1 December 2021. Highlights: H1 December 2021 sales were up 112% against an inflation rate of 61%. The operating margin declined to 21% from 25% in the year prior. Good debt position is reflected by low long-term debt and interest cover of 11 times. Innscor [...]

TSL Limited’s Avis car rental operations up 75% in 2022

March 24th, 2022|

TSL Limited's real estate and Avis car rental operations were up 10% and 75% respectively in Q1 2022. Highlights: Q1 2022 sales revenue was up 69% against an inflation rate of 60%, thus was positive in real terms. The tobacco auction season is set to start at the end of March. Crop volumes are expected [...]