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Masimba Holdings Limited

Masimba Holdings Limited excels

By Fortunate Rekai

Masimba Holdings Limited inflation adjusted turnover was ahead of the comparable period by 19%. This was due to the strong and firm order book as recorded in their trading update for the quarter, which ended on the 31st March 2022.

The first quarter environment remained volatile as characterized by continued hyperinflation and disparity between the official and alternative market foreign exchange rates.

These exchange rates resulted in pricing challenges in the marketplace.

The company their profit remained stable as supported by a hedged financial position as the group was sufficiently liquid with a current ratio of 1:11 (2021: 1.07:1).

Capital expenditure incurred in the period under review amounted to ZWL381, 925,360 from ZWL43, 394,947 compared to the same period last year, while borrowings as at 31 March 2022 were at ZWL267, 878,918 compared to ZWL396, 896,573 compared to the prior year.

“The Group has a firm order book, the execution of which may be negatively impacted by the prevailing volatility in the current macro environment,

“In addition, the continued conflict in Ukraine has affected supply chains and pricing of key construction materials such as steel, fuel and bituminous products,” the company secretary Pearl Mutiti said

“Despite the continued difficulties, the Group will remain focused on its value preservation strategy that is anchored on resource optimisation, product, and market diversification,” she said.

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