AXIA Corporation (Axia) reported revenue of $15,2 billion during the half-year to December 31, 2021, a 70 percent growth compared to the prior comparative period.
During the period under review, the group recorded a profit of $1,75 billion during the half-year period from $807 million recorded in the prior comparative period.
TV Sales & Home volume performance increased by 10 percent during the half-year ended December 31, 2021 while second quarter volume performance was up four percent compared to the same period in prior year attributable to successful market activation promotions, namely Black Friday and Ho-Ho-Home.
“Store refurbishments will continue during the second half of the financial year. The business will continue to expand its retail footprint with a target to open two new retail stores in Harare and one in Bulawayo in the second half of the financial year,” group chairman Luke Ngwerume said in the latest financials.
In Zimbabwe, Distribution Group Africa recorded a 46 percent turnover growth against the same period last year while volumes declined by 22 percent from the same period last year, mainly as a result of the discontinuation of ProGroup wholesale business without significant financial impact.