By Alois Vinga
LISTED manufacturer and marketer of milk, Dairibord Zimbabwe Limited (DZL) has seen foreign currency revenues growing by 193% on the backdrop of a stabilising economic environment.
Presenting a trading update for the first quarter ended March 31, 2021, DZL company secretary, Samson Punzisani said the total foreign currency revenues registered significant growth.
“Foreign currency revenues grew by 193% and accounted for 15% of total revenue for the period and thereby contributing to improved capacity to procure raw and packaging materials.
“During the quarter under review, macroeconomic fundamentals were relatively stable continuing from the fourth quarter of 2020. Foreign currency availability and stability improved, stabilising prices, resulting in declining inflation,” he said.
By Alois Vinga
LISTED food and dairy products processor, Dairibord Zimbabwe Limited (DZL) has urged shareholders to exercise caution ahead of plans to enter into a transaction, which will likely to result in merger with an unlisted Kwekwe-based entity, Dendairy.
The DZL has made prior cautionary announcements dated on 1 July 2020 and subsequent updates on 22 July 2020, 13 August 2020, 4 September 2020, 25 September 2020, 16 October 2020, 6 November 2020 and 27 November 2020.
In an update this week, DZL company secretary, Samson Punzisani said the pending transaction is likely to have effect on the company’s share.
“Shareholders are advised that Dairibord Holdings Limited is still in discussion with an unlisted entity for a merger and acquisition transaction. If successfully concluded, this transaction will have a material effect on the price of the company’s shares, the full impact of which is still being determined,” he said.