PWS | Financial statements for the 6 months to 31 March 2020

June 4th, 2020|

Commentary The half year to the end of March 2020, fell just at the beginning of the disruptions arising from the Covid19 pandemic. Business up to late March 2020 had been pleasingly buoyant, with volumes above those achieved in the same period in the previous year. Unfortunately, massive inflation, devaluation, and changes in exchange rate [...]

Powerspeed Electrical Group Quarterly Results: First Quarter ending 31 December 2019

February 20th, 2020|

COMMENTARY Trading Environment The continuing economic shrinkage means that all Zimbabweans are becoming poorer and disposable income is declining steadily. This will inevitably mean reduced income for all businesses and individuals and we expect that we will not be an exception. In general, the trading environment remains extremely difficult, with competitive pressures in a shrinking [...]

PWS.zw | Release of 2019 Annual report

February 5th, 2020|

OVERVIEW The Group performed commendably during the year under review, given the difficult operating environment in Zimbabwe, and despite increased competition. The numbers we are reporting suggest that we have been able to further increase our market share. We maintained the focus on building the Electrosales Hardware brand to be the biggest and best supplier [...]

PWS.zw | Notice to shareholders – Notice of AGM

February 4th, 2020|

ANNUAL GENERAL MEETING Notice is hereby given that the 42nd Annual General Meeting of the members of Powerspeed Electrical Limited will be held in the Powerspeed Boardroom, Gate 1, Powerspeed Complex, Corner Cripps Road and Kelvin Road North, Graniteside, Harare, at 11am, on Thursday 5 March 2020 to consider the following business: 1. ORDINARY BUSINESS [...]

PWS.zw | Scrip or Cash dividend offer results

February 4th, 2020|

Further to the dividend announcement made on 20 December 2019, shareholders are advised that the results of the scrip dividend offer are as follows: Cash dividend to be paid ZWL$ 233 104.23 Number of new shares to be allotted 17 405 616 BY ORDER OF THE BOARD POWERSPEED ELECTRICAL LIMITED M S GURIRA Company Secretary