The Directors of OK Zimbabwe Limited are pleased to announce the release of the Group's 2011 annual report for the year ended 31 March 2011. Below is an extract of the Chairman's Statement and a few financial highlights.

Chairman's Statement

Overview: Growth in a challenging environment
The macro-economic environment was stable throughout the period under review. The Gross Domestic Product is estimated to have grown by more than 8% whilst average annual inflation was about 3%. However, tight liquidity and undercapitalisation of most companies in the economy restricted local manufacturing of goods while low disposable incomes constrained consumer spending, especially in high margin products...

Group performance
Revenue generated for the period under review amounted to US$257.4 million compared to US$187.5 million for the same period in 2010. Profit before taxation was US$5.3 million compared to US$1.2 million in 2010. Net operating expenses increased from US$13.7 million in prior year to US$19.9 million in current year. The increase was caused mostly by marketing expenses that were minimal in prior year...

Financial Highlights

  • Revenue - US$257,426,323
  • Profit before tax - US$5,319,998
  • Profit for the year - US$4,285,700
  • Headline earnings - US$4,320,665
  • Total assets - US$68,782,530

To download or view the full 2011 annual report please click on the links below: