MASIMBA Holdings’ revenue increased by 30 percent to US$31,5 million for the half year to June 30, 2024, compared to US$24,1 million recorded in the same period in 2023 driven by a solid order book in the roads and earthworks, mining, housing infrastructure and buildings segment.
The group said the proportion of the US dollar-denominated revenues dropped to 63 percent during the half year under review compared to 71 percent in the prior year mainly impacted by the composition of the order book skewed towards government-funded projects.
“Our resilient financial position and the discipline embedded in our strategic foundations will continue to provide us with the financial strength and flexibility to fund our growth and deliver healthy returns to shareholders,” Masimba’s chairperson, Gregory Sebborn, said in a statement accompanying financials. – Staff Writer