Home Business Zimplats net profit declines

Zimplats net profit declines

Zimplats net profit declines
The the property group said the capital loss reflects the current portfolio’s CBD concentration.
ZIMPLATS has posted a 32 percent year-on-year drop in net profit to $170,68 million for the six months ended December 31, 2021, compared to $250,61 million for the six months ended December 31, 2020. 

The results were impacted by net foreign currency exchange losses of $21,8 million arising mainly on Zimbabwean dollar-denominated monetary assets owing to the depreciation of the Zimbabwean dollar.
Further, revenue of $585 million was 13 percent lower year-on-year largely owing to negative revenue from movements in commodity prices arising from pipeline sales following a drop in average metal prices compared to the second half of the previous financial year.
Cost of sales, at $294.9 million, was marginally lower than the previous year’s $297.4 million. A dividend of $120 million has been declared for the interim period.


Please enter your comment!
Please enter your name here