Construction and associated industries firm Masimba Holdings Limited results for the half year ended June 30, 2017 showed a 35 percent jump in revenue to $11, 579 million, thanks to its firm order book.
Briefing analysts, group chief executive Canada Malunga, said the company was sitting on a $38,4 million order book. Of this, mining accounts for $5 million, infrastructure projects at $16,8 million while industrial and commercial projects accounted for $10,8 million.
“We are going to sweat the order book to ensure it enhances the bottom-line,” said Mr Malunga. He, however, acknowledged foreign currency shortages were a serious cause for concern as this had a knock on effect on the business especially when acquiring spare parts.
The second half of the year, albeit busy, difficult but exciting, saw Masimba flourish on a commendable SHEQ performance path and in March 2016 embarking and pursuing certification in ZWS ISO 9001:2015 Quality Management System.
“We decided to separately list Proplastics on the Zimbabwe Stock Exchange after the environment that prevailed since 2009 had diminished the synergies that previously existed between the two businesses.” Canada Malunga, CEO, Masimba Holdings Limited.