CONSTRUCTION giant
Chairman
Access to foreign currency remains a challenge in
The
Sebborn noted that authorities' actions in the coming months would determine how Masimba would perform.
The firm has been at the vortex of a huge reconstruction effort in Cyclone Idai-hit Manicaland province where billions of
This year's heavy rains have also created more opportunities for construction firms.
Sebborn said inflation-adjusted revenue for the year ended
"The foreign currency auction system has contributed to a stable operating environment, the continued improvement of which provides opportunities for implementation of long-term infrastructure projects," Sebborn said.
"However, we urge the authorities to pursue appropriate policies that will mitigate the pricing arbitrage risks. "The group, as at reporting date, had a solid order book that included roads, mining and housing infrastructure and its execution thereof will largely be dependent on the sustenance of the current operating conditions as alluded to above. The order book is evenly balanced between the public and private sectors. The board remains alive to the current risks and opportunities and will maintain its value and growth strategy in 2021," he added.
The earnings growth was driven by improved operational efficiencies on contracting projects and fair value gains realised on the revaluation of investment properties.
"The group's net working capital improved to
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