• Tue. Apr 23rd, 2024

ZSE closes lower as Masimba reports 19% jump in Q1 revenue

ByEconomic Times

Jun 19, 2023

By ETimes

Zimbabwe Stock Exchange (ZSE) were lower after the close on Friday, as losses in select heavyweights led shares lower.

At close, the mainstream ZSE All Share Index depreciated by 0.74% to close at 186,269.59 points, while the market capitalisation appreciated by a negligible 0.10% to $15.27 trillion.

The Medium Cap Index was the only gainer, up 3.11% to end at 357,851.06 points.

The Small Cap Index was flat at 1,127,400.66 points.

Market turnover declined 73.70% to $888.88 million. CBZ led on value traded at $291.02 million, while Econet had the most volume at 136.400 shares.

The market breadth closed positive, as 12 stocks posted gains and 9 posted declines.

Construction firm Masimba Holdings had its annual general meeting today, where it recorded a 19% increase in revenue volumes to US$11.4 million for the first quarter of 2023, underpinned by a firm order book.

“Revenue was skewed towards the roads and earthworks segment which is funded by government. Payment position is generally satisfactory.

“All construction contracts are denominated in US dollars payment in a combination of USD and ZWL,” Masimba Holdings chief executive officer Canada Malunga told an annual general meeting.

At the end of trading Masimba Holdings was flat at $421.00.  

Morgan & Co Multi Sector ETF remained flat at $145.0000. Morgan & Co Made in Zimbabwe ETF remained flat at $6.4000 and Cass Saddle Agriculture ETF added $0.0043 to $4.5537.

Datvest Modified Consumer Staples ETF added $0.0037 to $13.0000 and Old Mutual ZSE Top 10 increased by $6.0893 to $52.0000-HARARE

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