ECO.zw | Unaudited Abridged Financial results for the half year ended 31 August 2017

By Published On: October 31st, 2017Categories: Corporate announcement

Chairman’s Statement to the Shareholders

INTRODUCTION

We now operate our business based on the convergence of Telecommunications, Media and Technology (“TMT”). Our TMT model is robust and can withstand the present day economic challenges. Our innovative products, a strong team, a culture of excellence in execution, as well as a robust infrastructure base are the anchors on which this business model has been developed. We see the current economic challenges as being transient and we believe that we are well positioned to take advantage of opportunities that the current environment presents and that we will emerge from this phase even stronger…

FINANCIAL PERFORMANCE REVIEW

Revenue for the half year ended 31 August 2017 increased by 17% from US$ 301.5 million to US$ 352.7 million. Our non-voice business segments continue to deliver solid growth. As we execute our TMT strategy and diversify our revenue streams, we have experienced growth in non-voice revenues, which now constitute 63% of total revenues…

OUTLOOK

We will remain focused on our Telecommunications, Media and Technology business model which allows our customers to enjoy a full spectrum of digital services and allows us to develop a diverse business with resilient revenue streams. Under the current challenging economic conditions, we believe we will find the necessary solutions to sustain the business, as we have always done in the past. In doing so, we remain inspired to change the lives of the communities in which we operate.

APPRECIATION

I would like to take this opportunity to thank all our staff, customers, shareholders, regulators and strategic partners for the support given to the Company during the past half year.

DR. J. MYERS
CHAIRMAN OF THE BOARD

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ECO.zw | 2017 Abridged financial results

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Econet Wireless Zimbabwe Limited (ECO.zw)

Share price: 25,662.04 ZWL cents ▼ (-825.02 | -3.11% – 28/03/23)

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