AXIA Corporation says its revenue was up by 70 percent to $15,7 billion during the six months to December 31, 2021.
The revenue growth filtered into gross margin which increased by 93 percent in the prior period and operating expenditure increased by 105 percent in the comparative period due to a certain indexed cost base.
“The group posted an operating profit of $3,2 billion, representing an 84 percent increase on the comparative period. Profit before tax of $3,5 billion was reported which was 88 percent ahead of prior period,” the group said in a statement accompanying its financial results.
Basic earnings per share and headline earnings per share both improved by 81 percent
“Net borrowings decreased by $1,2 billion as a result of improved cash sales which improved cash and cash equivalents balances resulting in decreased gearing. The group generated cash of ZWL$2.481 billion from operations which was up 577% from the comparative period,” the group said