Markets

Markets ● 3 months ago
Lockdown Blues Recovery Spurs Meikles Volume Growth

Meikles' performance generally improved in the 3-months ended June 2021, supported by volumes growth, favourable price discovery and less restrictive lockdown measures compared to the previous year. Inflation-adjusted revenue ↑ 21% Supermarket sales ↑ 21% Hotel occupancy ↓ 11% For continuing operations, inflation-adjusted revenue for the Group rose 21% from the prior year’s first quarter....


Markets ● 2 months ago
Mixed Fortunes In NMB's HY-21 & What Lies Ahead

ZSE-listed financial services firm NMB Bank performed well in the six-months ended 30 June 2021, as net-income grew 105% to settle at ZWL 716.2m from ZWL 348.8 million recorded in the previous comparative period. The remaining six-month period of the year however remains cloudy, with internal uncertainties stemming from the Bank's tech investments. Fee & Commission Income ↑ 128% FX Gains ↑ 74%...

Markets ● 2 months ago
TSL Trading Update Shows Promising Outlook In Tobacco Industry

In a trading update for the three-months ended July 2021, the TSL Group recorded volume growth across most business units, driving an improved performance for the quarter. Revenue up 9% TSL volumes handled up 143% Avis rental days up 121% Revenue in the period was 9% ahead of the prior year in inflation adjusted terms. In addition to having sufficient interest coverage on borrowed funds, t...

Markets ● 2 months ago
Fair Value Adjustments Wipe-Out First Mutual HY-21 Profits

Half-year results for the property and insurance Group largely reflected improvements from prior year performance. GWP ↑ 71%Rental Income ↑ 53%Profit ↓ 121% The Group’s Gross Premium Written grew to ZWL 5.4 billion in the period, a 71% inflation-adjusted increase. Despite marginal investment property gains recorded in US$ terms, a ZWL 1.6 billion fair value loss was incurred after conversion of...

Markets ● 1 month ago
Suppressed HY-21, Rosy Year-End Lined-Up For RTG

In the six-months ended June 2021, the Rainbow Tourism Group's occupancy closed the period at 24%, a 4% improvement from prior year levels. Inflation-adjusted revenue grew to ZWL 706m from ZWL 462m, representing a 53% growth. The Group says that in the face of business interruptions, gross margins managed to rise from 63% to 67% in the period. At ZWL 161m, EBITDA ended the half-year 6% down from...


Markets ● 1 month ago
SA hotel stocks surge as key international tourism markets lift travel restrictions

South African hotel and gaming stocks Sun International, Tsogo Sun Hotels, Tsogo Sun Gaming, and City Lodge Hotels Group surged to hit 52-week highs on the JSE on Monday, buoyed by several key international source markets lifting Covid-19 travel restrictions and expectations that the UK will remove SA from its red-list this week. President Cyril Ramaphosa moving the country to its lowest Covid-19...


Markets ● 2 weeks ago
Zimplats' Money Minting Operations Continue Growing

Operational Update In a trading update for the three months ended September 2021, Zimplats Holdings reported 1% improvements in both ore mined and head grade of 6E elements mined by the Group (platinum, palladium, rhodium, rhuthenium, iridium and gold). However, when compared to the same three-month period of 2020, the 1.8m tonnes mined in the quarter were 3% lower. At 3.45 g/t, 6E head grade was...