ZIMRE HOLDINGS LIMITED ABRIDGED AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
SHORT-FORM FINANCIAL ANNOUNCEMENT
Issued in terms of practice Note 13 of the Zimbabwe Stock Exchange (ZSE)
This Short-Form Financial Announcement is the responsibility oftheDirectorsofZHLandisonlyasummaryoftheinformation contained in the full announcement and does not contain full or complete details. Any investment decisions by investors or shareholders should be based on consideration of the full announcement.
The full announcement is available on the Zimbabwe Stock Exchange Website: www.zse.co.zw and the Company website: www.zhl.co.zw.
A copy of the full announcement will also be available for inspection at the Company's registered office at 2nd Floor, Block D, Smatsatsa Office Complex, Borrowdale, Harare or via email request to: zhl@zimre.co.zw or the office of its transfer secretaries, ZB Transfer Secretaries, 21 Natal Road, Avondale or via email at PMberikwazvo@zb.co.zw.
AUDITED | AUDITED | ||
INFLATION ADJUSTED | HISTORICAL COST | ||
31 December | 31 December | ||
2022 Audited | 2022 Audited | ||
ZWL (m) | % Change | ZWL (m) | % Change |
Net premium written | 15 410 |
Total income | 39 530 |
Total comprehensive income | 10 702 |
Total assets | 122 189 |
Total equity | 50 884 |
Cash generated from operations | 8 915 |
Basic earnings per share (zwl cents) | 255.21 |
Headline earnings per share (zwl cents) | 254.04 |
12% | 12 991 |
9% | 68 955 |
8% | 36 135 |
51% | 119 801 |
32% | 48 489 |
291% | 11 750 |
-50% | 1 255.11 |
-49% | 1 254.17 |
269%
417%
502%
424%
352%
-
033%
339%
344%
Dividend
Notwithstanding the difficult operating environment, the Board of Directors have found it prudent to declare a final dividend payable of ZWL250,269,677 or ZWL13.76 cents per share for the year ended 31 December 2022. The dividend is in acknowledgement of the Group's philosophy to pass subsidiary dividends to the ultimate shareholder. This brings the total dividend for the year to ZWL405,652,702 or ZWL22.31 cents per share. A separate dividend notice will be published to this effect in accordance with the Company's Articles of Association and the Zimbabwe Stock Exchange (ZSE) Listing Requirements.
Auditor's Statement
This short form financial announcement derived from the audited inflation adjusted consolidated financial statements of Zimre Holdings Limited "the Group" for the financial year ended 31 December 2022, should be read together with the complete set of audited inflation adjusted consolidated financial statements, for the year ended 31 December 2022, which have been audited by Grant Thornton Chartered Accountants (Zimbabwe) and the auditor's report signed by Edmore Chimhowa, Registered Public Auditor 0470.
An adverse opinion has been issued on the audited inflation adjusted consolidated financial statements, for the year then ended. The adverse opinion was issued regarding non- compliance with IAS 21- The Effects of Changes in
Foreign Exchange Rates, and inclusion of the unaudited financial statements of Vanguard Life Assurance Limited in the consolidated financial statements of Fidelity Life Assurance of Zimbabwe Limited, a significant component of Zimre Holdings Limited.
The auditor's report includes a section on key audit matters outlining matters that in the auditor's professional judgement, were of most significance in the audit of the inflation adjusted consolidated financial statements. These include gross premiums recognition, adequacy of allowance for credit losses on trade and other receivables and valuation of insurance/reassurance contract liabilities.
The auditor's report on the inflation adjusted consolidated financial statements and the full set of the audited inflation adjusted consolidated financial statements, is available for inspection at the Company's registered office and the auditor's report has been lodged with the Zimbabwe Stock Exchange.
- MATETE CHAIRMAN
31 MARCH 2023
ABRIDGED AUDITED
CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31
DECEMBER 2022
Chairman's Statement for the Financial Year Ended 31 December 2022
Dear Members
It is my pleasure to present the Zimre Holdings Limited (ZHL) Group Financial
Results for the year ended 31 December 2022.
BUSINESS ENVIRONMENT
The trading year 2022, was characterised by a slow global economy, a result of the Russia-Ukraine War and latent effects of the COVID-19 pandemic. Sub-Saharan Africa was not spared from economic shocks which included rising inflation, currency fluctuations, geopolitical tensions and weather shocks. Economic growth in the Southern African region has also been crippled by electricity shortages which either reduced production or escalated the cost of production in various industries.
In the first half of 2022, the Zimbabwean economy saw marked increases in various commodity prices largely driven by fuel price hikes as a result of the Russia -Ukraine War. The second half was characterised by increasing inflation and currency instability. Like most central banks across the world, the Reserve Bank of Zimbabwe (RBZ) employed tight monetary policies in order to curb the high levels of inflation. Consumers were on the receiving end as the cost of living increased and demand in various sectors of the economy reduced. The RBZ also introduced the Mosi oa Tunya Gold Coins (Gold Coins), which proved to be a valuable alternative and stable investment product for industry players. Additionally, the Gold Coins addressed the economy's excess liquidity thereby bringing exchange rate stability at the tail end of 2022.
Despite extreme weather shocks and terrorist attacks in the North, Mozambique saw some signs of positive change as the country received International Monetary Fund (IMF), World Bank and European Union (EU) funding for various national projects. The economy is set to rebound following opportunities in and resumption of the gas projects.
Malawi like Mozambique was hit by tropical storms and cyclones, the effects of which were further exacerbated by electricity shortages, subsequent fuel price increases and shortages. The economy was also dealt blows as exports and production declined, foreign currency became increasingly scarce, and this was worsened by the blight of high inflation and exchange rate instability.
The Zambian economy experienced relative economic stability managing to keep inflation in the single digits, down from 16.4% in December 2021 to close 2022 at 9.9%. However, Gross Domestic Product (GDP) growth slowed down in 2022 as government consumption stagnated and drought dampened farmers expectations.
Botswana's economic growth rate for 2022 was estimated to be 6.7% down from 11.8% in 2021. This was a result of declining diamond production attributed to the rise in demand for lab grown diamonds and the late institution of monetary policy measures to curb inflation.
OVERALL GROUP FINANCIAL PERFORMANCE
In spite of the significant challenges in the Group's operating jurisdictions, the Group delivered positive results, benefitting from the resilient performances of its underlying businesses.
Inflation adjusted Group total income was ZWL39.5 billion, a 9% increase from ZWL36.3 billion achieved in
2021. On a historical cost basis, total income increased by 417% from ZWL13.3 billion in 2021 to ZWL69.0 billion in 2022. The growth was driven by overall positive investment returns, strong top-line growth in premium income particularly in Botswana and Zambia and growth in the life and pensions business domiciled in Zimbabwe. Investment income growth was underpinned by fair value gains on investment properties largely driven by the exchange rate movements.
Gross Premium Written (GPW) was ZWL20.4 billion, a 13% increase in inflation adjusted terms. In historical terms, GPW was ZWL17.3 billion, a 272% increase from same period prior year on the back of real business growth in the region and from domestic operations. The regional operations contributed 43% to GPW in 2022 compared to 41% in 2021 and thus remain key strategic investments which provide diversification value to the Group.
Inflation adjusted Group total expenses grew by 36% from ZWL22.1 billion recorded in prior year to ZWL30.1 billion in the current year and in historical cost terms, expenses grew by 457% from ZWL7.6 billion in 2021 to ZWL42.3 billion in 2022. The spike in expenses was on account of unprecedented high claims experience in the non-life reinsurance entities as a result of climate change effects. Going forward, the Group will be improving its underwriting practices using innovative technologies to counteract climate change effects on its key reinsurance business lines. Local non-life reinsurance operations were hit the most by high agriculture claims resulting in a claims ratio of 71%. Operating and administration expenses spiked due to exchange rate driven inflationary pressures experienced primarily in Zimbabwe.
The Group sustained profitability in inflation adjusted terms, recording profit after tax of ZWL4.1 billion. In historical cost terms, profit after tax increased by 330% from ZWL5.4 billion in 2021 to ZWL23.2 billion in 2022. The growth is on account of fair value gains on financial assets and investment properties as well as strong top- line growth in some business units.
The Group's total assets increased by 51% in real terms from ZWL80.7 billion as at 31 December 2021 to ZWL122.2 billion as at 31 December 2022. The asset growth was driven by investment properties and equity investments which account for 67% (2021: 63%) of the Group's total assets. The Group's healthy balance sheet position is evidence of its resilience and commitment to provide its stakeholders with "Security, Growth and Profitability".
COMMITMENT TO ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) FACTORS
It is the Group's commitment to implement ESG practices that promote inclusive growth, diversity in communities we operate in, promoting equity, strengthening governance as anchor pillars for overall sustainability whilst outwardly championing wellness and healthy lifestyles in customer communities. This commitment informs every aspect of our business, especially our processes, investment appraisals, business practices, a participatory approach and strong collaboration with stakeholders.
DIRECTORATE
As was advised in the Interim Condensed Consolidated Financial Statements for the half year ended 30 June 2022, Mr. Benjamin N. Kumalo stepped down as a member and Chairman of the Board. His over 20 years of service to the ZHL Group has indelibly shaped the DNA of the Group. Desmond Matete, was subsequently appointed as Chairman.
DIVIDEND DECLARATION
Notwithstanding the difficult operating environment, the Board of Directors have found it prudent to declare a final dividend payable of ZWL250,269,677 or ZWL13.76 cents per share for the year ended 31 December 2022. The dividend is in acknowledgement of the Group's philosophy to pass subsidiary dividends to the ultimate shareholder. This brings the total dividend for the year to ZWL405,652,702 or ZWL22.31 cents per share. A separate dividend notice will be published to this effect in accordance with the Company's Articles of Association and the Zimbabwe Stock Exchange (ZSE) Listing Requirements.
OUTLOOK AND STRATEGY
As the Group celebrates a 40-year legacy in 2023, we are proud of its rich history that has showcased Zimbabwean excellence and left a footprint across Zimbabwe and the Southern Africa sub-region. Looking forward, and given its proven resilience over the years, the ZHL Group is focused on growing sustainable value for its stakeholders in a turbulent global economy. The strategy is set to harness the various strengths of its new structure and strategic partnerships to drive capacitation of its regional units and to expand its footprint further into the African continent.
The Group will be embarking on a new investment focus towards infrastructure and landmark development with an emphasis on sustainability. These activities will be undertaken through its Eagle Real Estate Investment Trust (REIT) to enable both local and international investor participation.
Since 2021, the Group has been going through a culture transformation to align the organisational purpose, strategic values and leadership behaviours. The renewed energy, including the various initiatives the Group is embarking on, are set to bring value realization to the shareholder and the community at large.
APPRECIATION
On behalf of the Board, I would like to thank our shareholders and the investing community for their continued support. I would like to extend my gratitude to my fellow Board members, Management and staff for their efforts in sustaining the business through a difficult operating environment.
-
MATETE CHAIRMAN
31 MARCH 2023
Board Of Directors: Desmond Matete (Chairperson), Mark Haken, Jean Maguranyanga, Ignatius Mvere, Hamish BW Rudland, Cron von Seidel, Edwin Zvandasara, Stanley Kudenga (Group Chief Executive). | 1 |
ABRIDGED AUDITED
CONSOLIDATED FINANCIAL
STATEMENTS FOR THE YEAR
ENDED 31 DECEMBER 2022
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022
INFLATION ADJUSTED | HISTORICAL COST | |||||
Audited | Audited | Audited | Audited | |||
ASSETS | 31 December 2022 | 31 December 2021 | 31 December 2022 | 31 December 2021 | ||
Note | ZWL | ZWL | ZWL | ZWL | ||
Property and equipment | 4 | 7 300 065 929 | 4 569 604 740 | 6 935 249 862 | 1 234 202 897 | |
Right of use of assets | 169 781 982 | 123 054 534 | 141 614 825 | 35 655 046 | ||
Investment properties | 5 | 68 246 210 551 | 45 706 873 341 | 68 246 210 551 | 13 296 162 925 | |
Intangible assets | 6 | 419 157 080 | 379 774 197 | 280 131 846 | 94 635 809 | |
Investment in associates | 3 128 627 220 | 4 818 499 486 | 2 273 541 148 | 1 156 317 343 | ||
Deferred tax assets | 1 533 604 611 | 181 650 509 | 1 125 983 431 | 32 384 017 | ||
Other non-current assets | 111 365 906 | - | 111 365 906 | - | ||
Inventories | 484 845 065 | 511 216 609 | 19 106 790 | 8 987 278 | ||
Trade and other receivables | 7 | 17 160 094 820 | 7 781 833 285 | 17 173 762 109 | 2 228 652 160 | |
Life reassurance contract asset | 87 876 000 | 89 728 203 | 87 876 000 | 26 102 000 | ||
Current income tax assets | 462 500 152 | 255 293 812 | 459 635 744 | 74 265 157 | ||
Deferred acquisition costs | 919 546 590 | 834 467 521 | 780 755 749 | 176 792 016 | ||
Financial assets: | ||||||
- at amortised cost | 8.1 | 1 002 923 679 | 3 005 011 982 | 1 002 923 679 | 874 160 186 | |
- at fair value through profit or loss | 8.2 | 6 142 794 997 | 4 536 663 640 | 6 142 794 997 | 1 319 718 775 | |
- at fair value through other comprehensive income | 8.3 | 4 093 119 281 | 2 252 820 108 | 4 093 119 281 | 655 347 019 | |
Cash and cash equivalents | 10 926 482 280 | 5 607 692 921 | 10 926 482 280 | 1 631 281 977 | ||
Total assets | 122 188 996 143 | 80 654 184 888 | 119 800 554 198 | 22 844 664 605 | ||
EQUITY AND LIABILITIES | ||||||
EQUITY | ||||||
Equity attributable to equity holders of the parent | ||||||
Share capital | 2 825 677 150 | 2 825 677 150 | 18 175 447 | 18 175 447 | ||
Share premium | 6 383 816 866 | 6 383 816 866 | 787 722 112 | 787 722 112 | ||
Treasury shares | (10 392 855) | (10 392 855) | (1 412 619) | (1 412 619) | ||
Revaluation reserve | 5 316 807 902 | 2 891 907 646 | 7 672 416 450 | 903 666 649 | ||
Financial assets at fair value through other comprehensive | ||||||
income reserve | 1 033 510 585 | 793 731 343 | 594 340 639 | 147 739 785 | ||
Foreign currency translation reserve | 7 186 606 196 | 4 594 326 207 | 4 057 343 133 | 583 552 452 | ||
Change in ownership reserve | 2 476 382 924 | 2 476 382 924 | 334 501 014 | 334 501 014 | ||
Retained earnings | 20 152 290 046 | 15 835 055 133 | 29 668 215 556 | 7 105 586 920 | ||
Total equity attributable to equity holders of the parent | 45 364 698 814 | 35 790 504 414 | 43 131 301 732 | 9 879 531 760 | ||
Non-controlling interest | 5 519 534 059 | 2 813 023 053 | 5 358 109 167 | 853 922 596 | ||
Total equity | 50 884 232 873 | 38 603 527 467 | 48 489 410 899 | 10 733 454 356 | ||
LIABILITIES | ||||||
Deferred tax liabilities | 3 551 778 899 | 2 238 825 825 | 4 190 804 531 | 702 008 883 | ||
Short term insurance contract liabilities | 11 | 7 820 258 539 | 4 755 871 909 | 7 187 612 936 | 1 211 397 022 | |
Insurance contract liabilities with discretionary participation | ||||||
features | 12.1 | 24 458 354 615 | 20 603 880 912 | 24 458 354 615 | 5 993 684 045 | |
Investment contract liabilities with discretionary | ||||||
participation features | 12.2 | 12 461 018 797 | 2 977 660 658 | 12 461 018 797 | 866 203 666 | |
Investment contracts without discretionary participation | ||||||
features | 12.3 | 5 589 813 223 | 3 269 671 498 | 5 589 813 223 | 951 149 833 | |
Life reassurance contract liabilities | 648 465 000 | 480 885 692 | 648 465 000 | 139 890 000 | ||
Borrowings | 9 | 477 437 553 | 432 222 418 | 477 437 553 | 125 733 818 | |
Lease liabilities | 102 677 437 | 112 477 809 | 102 677 437 | 32 719 877 | ||
Other provisions | 303 504 699 | 219 176 568 | 303 504 699 | 63 758 624 | ||
Trade and other payables | 10 | 15 442 068 200 | 6 420 995 080 | 15 442 068 200 | 1 867 872 172 | |
Current income tax payable | 449 386 308 | 538 989 052 | 449 386 308 | 156 792 309 | ||
Total liabilities | 71 304 763 270 | 42 050 657 421 | 71 311 143 299 | 12 111 210 249 | ||
TOTAL EQUITY AND LIABILITIES | 122 188 996 143 | 80 654 184 888 | 119 800 554 198 | 22 844 664 605 | ||
Board Of Directors: Desmond Matete (Chairperson), Mark Haken, Jean Maguranyanga, Ignatius Mvere, Hamish BW Rudland, Cron von Seidel, Edwin Zvandasara, Stanley Kudenga (Group Chief Executive). | 2 |
ABRIDGED AUDITED
CONSOLIDATED FINANCIAL
STATEMENTS FOR THE YEAR
ENDED 31 DECEMBER 2022
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2022
INFLATION ADJUSTED | HISTORICAL COST | ||||||
Audited | Audited | Audited | Audited | ||||
31 December 2022 | 31 December 2021 | 31 December 2022 | 31 December 2021 | ||||
Note | ZWL | ZWL | ZWL | ZWL | |||
INCOME | |||||||
Gross written premium | 20 390 246 091 | 18 001 781 109 | 17 265 859 934 | 4 636 790 891 | |||
Retrocession premium | (4 980 602 983) | (4 209 664 498) | (4 274 844 423) | (1 113 239 489) | |||
Net premium written | 15 409 643 108 | 13 792 116 611 | 12 991 015 511 | 3 523 551 402 | |||
Change in unearned premium reserve | (1 840 133 051) | (692 596 802) | (1 449 187 000) | (174 597 449) | |||
Net premium earned | 13 569 510 057 | 13 099 519 809 | 11 541 828 511 | 3 348 953 953 | |||
Brokerage, commission and fees | 1 611 879 120 | 1 490 838 107 | 1 274 828 272 | 401 101 209 | |||
Total insurance income | 15 181 389 177 | 14 590 357 916 | 12 816 656 783 | 3 750 055 162 | |||
Rental income from investment property | 1 479 455 498 | 1 069 121 812 | 1 089 753 298 | 253 330 511 | |||
Fair value adjustments on investment property | 17 929 819 393 | 13 055 776 107 | 49 352 586 685 | 7 352 760 127 | |||
Revenue from sale of inventory property | 253 291 086 | 129 307 485 | 153 472 436 | (295 216) | |||
Property operating cost recoveries | - | 1 608 467 632 | - | 409 565 344 | |||
Investment income | 873 732 622 | 590 028 329 | 861 789 130 | 169 606 527 | |||
Other income | 14 | 3 812 063 103 | 5 243 499 647 | 4 680 735 693 | 1 398 476 467 | ||
Total income | 39 529 750 879 | 36 286 558 928 | 68 954 994 025 | 13 333 498 922 | |||
EXPENDITURE | |||||||
Insurance benefits and claims: | |||||||
Non-life insurance claims | (11 934 646 071) | (4 645 927 205) | (10 545 581 850) | (1 008 995 955) | |||
Life reassurance benefits and claims | (1 923 660 536) | (2 606 153 288) | (1 558 575 388) | (664 591 103) | |||
Movement in life reassurance contract liabilities | (651 604 466) | (386 927 091) | (446 801 000) | (90 842 000) | |||
Claims ceded to reinsurers | 7 217 756 523 | 1 394 020 833 | 6 344 071 281 | 362 228 893 | |||
- | - | ||||||
(7 292 154 550) | (6 244 986 751) | (6 206 886 957) | (1 402 200 165) | ||||
Gross change in insurance contract liabilities with DPF | 1 133 233 209 | (3 343 686 995) | (8 773 170 400) | (2 366 304 082) | |||
Gross change in investment contract liabilities with DPF | (9 483 358 139) | (157 708 943) | (11 594 815 131) | (111 609 525) | |||
Gross change in investment contract liabilities without DPF | (207 597 250) | (939 928 406) | (3 429 299 258) | (665 180 810) | |||
Net property operating costs | (225 493 539) | (328 442 556) | (375 242 389) | (37 086 916) | |||
Commission and acquisition expenses | (4 575 972 263) | (3 509 127 970) | (3 728 272 489) | (910 349 314) | |||
Operating and administrative expenses | 13 | (8 567 788 770) | (6 684 387 147) | (7 411 584 575) | (1 836 031 749) | ||
Allowance for expected credit losses on receivables | (608 533 615) | (739 261 549) | (548 225 567) | (182 353 895) | |||
Finance costs | (234 479 249) | (194 848 392) | (198 308 629) | (48 042 338) | |||
Total expenses | (30 062 144 166) | (22 142 378 709) | (42 265 805 395) | (7 559 158 794) | |||
Loss on net monetary position | (3 643 575 157) | (2 973 743 006) | - | - | |||
Profit before share of profit of associate | |||||||
accounted for using the equity method | 5 824 031 556 | 11 170 437 213 | 26 689 188 630 | 5 774 340 128 | |||
Share of (losses)/profit of associates | (1 735 248 672) | (502 614 146) | (2 049 610 212) | 92 517 053 | |||
Profit before income tax | 4 088 782 884 | 10 667 823 067 | 24 639 578 418 | 5 866 857 181 | |||
Income tax credit/(expense) | 25 465 370 | (994 337 129) | (1 465 256 507) | (471 305 890) | |||
Profit for the period | 4 114 248 254 | 9 673 485 938 | 23 174 321 911 | 5 395 551 291 | |||
OTHER COMPREHENSIVE INCOME | |||||||
Items that will not be reclassified to profit or loss: | |||||||
Property revaluation surplus | 2 614 721 143 | 722 809 938 | 4 194 365 387 | 477 386 819 | |||
Share of other comprehensive income of associates | 408 933 555 | 126 772 575 | 2 866 677 488 | 352 551 093 | |||
Gross change in insurance liabilities through other | |||||||
comprehensive income | - | (594 878 252) | - | (339 097 687) | |||
Income tax relating to components of other comprehensive | |||||||
income | (598 754 442) | (1 302 558) | (292 293 075) | (10 108 415) | |||
2 424 900 256 | 253 401 703 | 6 768 749 800 | 480 731 810 | ||||
Board Of Directors: Desmond Matete (Chairperson), Mark Haken, Jean Maguranyanga, Ignatius Mvere, Hamish BW Rudland, Cron von Seidel, Edwin Zvandasara, Stanley Kudenga (Group Chief Executive). | 3 |
ABRIDGED AUDITED
CONSOLIDATED FINANCIAL
STATEMENTS FOR THE YEAR
ENDED 31 DECEMBER 2022
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2022 (continued)
INFLATION ADJUSTED | HISTORICAL COST | ||||
Audited | Audited | Audited | Audited | ||
31 December 2022 | 31 December 2021 | 31 December 2022 | 31 December 2021 | ||
Note | ZWL | ZWL | ZWL | ZWL | |
Items that may be reclassified to profit or loss: | |||||
Exchange gains on translation of foreign operations | 3 922 682 340 | (142 594 498) | 5 745 293 693 | 70 376 162 | |
Changes in fair value of financial assets at fair value through | |||||
other comprehensive income | 242 201 254 | 152 787 144 | 451 111 974 | 60 035 752 | |
Income tax relating to components of other comprehensive | |||||
income | (2 422 013) | (1 527 872) | (4 511 120) | (600 358) | |
4 162 461 581 | 8 664 774 | 6 191 894 547 | 129 811 556 | ||
Other comprehensive income for the period net of tax | 6 587 361 837 | 262 066 477 | 12 960 644 347 | 610 543 366 | |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 10 701 610 091 | 9 935 552 415 | 36 134 966 258 | 6 006 094 658 | |
Profit for the period attributable to: | |||||
Equity holders of Zimre Holdings Limited | 4 640 302 587 | 9 231 759 628 | 22 820 581 019 | 5 193 182 571 | |
Non-controlling interests | (526 054 333) | 441 726 310 | 353 740 892 | 202 368 720 | |
4 114 248 254 | 9 673 485 938 | 23 174 321 911 | 5 395 551 291 | ||
Total comprehensive income attributable to: | |||||
Equity holders of Zimre Holdings Limited | 9 897 262 075 | 9 474 558 322 | 33 509 722 354 | 5 745 892 660 | |
Non-controlling interests | 804 348 016 | 460 994 096 | 2 625 243 904 | 260 201 998 | |
10 701 610 091 | 9 935 552 415 | 36 134 966 258 | 6 006 094 658 | ||
Earnings per share from profit on continuing operations | |||||
attributable to owners of Zimre Holdings Limited | |||||
Basic and diluted earnings per share (ZWL cents): | 16 | 255.21 | 507.74 | 1 255.11 | 285.62 |
A NEW
ERA
A REBIRTH
BLOCK D, 2ND FLOOR, SMATSATSA OFFICE PARK, STAND NUMBER 10667, BORROWDALE, HARARE, ZIMBABWE
+263 24 2870 762-8ZHL@ZIMRE.CO.ZW WWW.ZHL.CO.ZW
GERZHL007
Board Of Directors: Desmond Matete (Chairperson), Mark Haken, Jean Maguranyanga, Ignatius Mvere, Hamish BW Rudland, Cron von Seidel, Edwin Zvandasara, Stanley Kudenga (Group Chief Executive). | 4 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Zimre Holdings Ltd. published this content on 04 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2023 08:06:03 UTC.
