Simbisa Brands H1 2023 US$ earnings increased by 38%

Published On: April 19, 2023By Tags: Southern-Africa

Simbisa Brands, US$ earnings increased by 38% in H1 2023 to 31 December 2022 compared to year prior.


  • H1 2023 sales increased by 24% to US$146m.
  • Foreign Exchange gains in H1 2023 increased to US$2.4m compared to US$1.9m in H1 2022.
  • A bargain purchase gain of US$2.1m was realised on the establishment of Ndoro Microfinance Bank.
  • Invested US$1.0m in Harare real estate.

Investor Issues

  • Long-term debt/equity ratio of 25%.
  • Interest cover of 45.2 times.
  • Operating margins of 14% vs 15% in H1 2022.

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About the Author: Hartland-Peel Africa Equity Research

Sub-Saharan Africa ex SA: Equity, debt and FX research covering sixteen countries and advising institutional investors. Proprietary data base of sixteen African stock markets, 250+ companies which is one of the most extensive and complete. New issues, IPO’s and distribution of equity on privatisation. Development of lending and corporate finance opportunities for the bank, privatisation and asset management. An ‘A’ rated equity analyst by South African institutional investors as polled by the Financial Mail in 1998 and 1999.