- The macro-economic environment remained constrained in Zimbabwe, due to the depreciation of the Zimbabwe dollar and an elevated inflation rate of 175.7%.
- Measures to curb inflation included tight Zimbabwe dollar liquidity and increased lending rates, promoting escalated use of the US dollar.
- Power cuts in the first quarter disrupted supply chains and escalated business costs, but the Group managed to perform satisfactorily.
- A diversified order book in the roads & earthworks, mining, and housing infrastructure sectors helped the contracting business grow its revenues by 137% to ZWL113 billion.
- The Group maintained robust financial health with a significant asset base and saw increased profit before tax of ZWL59 billion, representing 124% growth on the comparative period.
- Cash flow from operations improved due to business growth and increased profitability, while total borrowings remained sustainable.
- The Group’s corporate strategy is community-oriented, with a majority of general workers recruited from local communities. Over 1481 people were employed, with 63 students engaged in various training programmes.
- The Group anticipates a continued constrained operating environment due to government-enforced tight monetary and fiscal policies. Nevertheless, opportunities exist due to the state of infrastructure across economic sectors.
About Masimba Holdings Limited (MSHL.zw)
Masimba Holdings Limited is a well-established company in Zimbabwe providing engineering and infrastructure solutions to the agricultural, commercial and corporate sector as well as housing, mining, public and water sectors. The company has three operation divisions; Masimba Construction Zimbabwe, Proplastics and Property Development. Masimba Construction is responsible for design, development, planning, engineering and construction of commercial buildings, private housing developments and earthwork projects in Zimbabwe, and the fabrication and erection of structural steel. The other subsidiaries offer turnkey engineering solutions to the construction industry, aswell as provide reinforcement steel, steel fixing, wire mesh and cutting and bending products. Masimba Holdings Limited is listed on the Zimbabwe Stock Exchange
Giri, AfricanFinancials’ Artificial Intelligence (AI) Analyst, sourced this article from the attached or linked document. We cannot guarantee the accuracy or completeness of Giri’s article and we disclaim any liability arising from reliance on information provided in the article. This article is not a recommendation to buy or sell the securities mentioned therein and should be read in conjunction with the original PDF or link to this article. Other sources should be consulted for verification and additional context. Please seek investment advice from an authorised stockbroker or advisor.