During the latest quarter, the company achieved a 2.5% growth in Shareholders' Funds while navigating ongoing challenges from the COVID-19 pandemic, which are easing as trading hours normalize. Despite facing pressure from rising product prices, increased logistics costs, and heightened competition in the hardware market, trading volumes remained strong, bolstered by domestic construction and diaspora remittances. The company is actively expanding into new market segments and enhancing its sourcing strategies to adapt to the competitive landscape.

During the reviewed quarter, satisfactory customer service was maintained, leading to a 3.5% growth in Shareholders’ Funds in real terms. Despite the challenges posed by COVID-19, including reduced trading hours and staff availability, trading volumes remained strong, fueled by a surge in domestic construction and diaspora remittances. However, margins were pressured by rising commodity and logistics costs and an increasingly competitive market. The company is actively pursuing new market segments and expanding its branch footprint to offset these challenges. Group revenue for June 2021 surged by 572.7% compared to June 2020.

In the latest trading update, the business environment in Zimbabwe shows signs of recovery post-COVID-19, although supply chain challenges persist, leading to product shortages. Foreign currency sourcing remains inadequate due to complex regulations, fostering informal market growth. Despite competitive pressures and margin constraints, overall trading volumes were strong, particularly in building materials, contributing to a nearly 5% increase in shareholder value. The outlook remains optimistic, supported by the resilience of the Zimbabwean economy and effective operational strategies.