ZIMPLOW Holdings (Zimplow) says its profit declined by 21 percent to $228 million during the half-year to June 30, 2021, due to “currency distortions” in Zimbabwe.
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This was despite a 67 percent growth in revenue to $1,66 billion, which the company said was driven by volume growth across all its units.
“While our profitability has grown in real terms, the impact of currency distortions on revenue influenced the inflation adjusted profit to decline,” board chairman Godfrey Manhambara said last week in a statement accompanying fina
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