OK Zimbabwe Limited

OKZ.zw | HY2014 results’ analyst presentation

By Published On: November 21st, 2013Categories: Corporate announcement

OK Zimbabwe announces the release of the analyst presentation for the unaudited results for the six months ended 30 September 2013. Below is a summary of the performance review:

Performance review

  • Sales growth of 5.4% (inflation at September year on year was 0.86%; subdued GDP growth)
    • decreasing demand caused by tight liquidity and limited disposable incomes
  • Gross margin at 16.9% (2012 : 17.0%) – competitive pressure endures and higher consumption of low margin basic items continues. Initiatives continue to improve it through procurement.
  • Net Overheads up 5.9%
    • depreciation of newer equipment
    • advertising and promotional expenses to compete for retail $
    • more staff engaged to provide adequate service in improved facilities and broadened product offering. Financial services income is growing.
    • more use of the Distribution Centre to supply branches with imported product received centrally
    • High cost of utilities
    • Cost of security
  • Stock holding more than month forecast sales; slowdown in demand
  • Capital expenditure $6.3 million (H1 F13: $7.3 million) – timing
  • Cash position good – balance $15.9 million (F 13 $15.6 million)

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The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.

OK Zimbabwe Limited (OKZ.zw)

Share price: 20,037.96 ZWL cents ▼ (-67.40 | -0.34% – 02/06/23)

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