Financials & Economy

Economic woes bite Hippo Valley

ZIMBABWE – Sugar producer, Hippo Valley Estates Limited (Hippo), says its profit for the six months to September 30, 2015 slumped to $2,3 million from $9 million recorded prior period comparative on the back of challenging economic conditions.

Weakening demand hurts AfDis revenue

ZIMBABWE – Listed industrial concern African Distillers (AfDis) says revenue for the first four months ending October were lower compared to the same period last year as demand tapered on the back of a weakening economy despite growth in ciders and wines volumes.

Presco Nigeria profit surges on cost cuts

NIGERIAPresco Nigeria Plc’s cost control measures put in place by its proactive management have paid off as half year net income increased 10.18 percent amid tough operating environment crimping the growth of companies in Africa’s largest economy.