In his Chairman’s Statement for the year ending September 30, 2024, V.R. Gapare addresses the challenges faced by the formal business sector, including price controls and increasing fiscal burdens, which have impacted profitability. Despite these obstacles, the group generated a profit of $4.3 million and focused on expanding market share through limited new openings and the launch of a timber division. A dividend of $3.74 per share was declared, reflecting satisfactory performance. The company remains committed to growth amid economic difficulties, emphasizing customer loyalty and quality service.

In the first half of FY 2024, Powerspeed Electrical faced challenges but achieved growth, with revenue rising from USD 46.8 million to USD 58.2 million and profit after tax growing from USD 1.2 million to USD 2.9 million. Transitioning to USD as the reporting currency presented complexities. Despite increased operating expenses, shareholder equity rose to USD 49.1 million. The company plans to capitalize on rising demand in the residential construction market, with optimism for future growth, though it will not issue an interim dividend amid uncertainties in Zimbabwe's business environment.