Powerspeed Electrical Limited's 2019 Half Year Report reveals a turnover of $60.1 million, representing a 62% increase year-on-year, despite a decrease in gross margin to 24.1%. Operating expenses rose by 50%, yet operating profit grew 14% to $3.80 million. The company successfully expanded its product range and locations, including a new branch in Harare. While optimistic about long-term prospects, Powerspeed faces challenges from economic distortions and a growing informal market. Equity value has tripled due to strategic investments in property and inventory.

In the first half of 2019, despite significant disruptions, the Group experienced reasonable growth driven by an expanded footprint and product range, increasing market share in a challenging environment. The focus remains on enhancing customer experience, supporting a growing client base. Financial reporting is complicated by currency fluctuations, but the presented figures aim to reflect performance accurately. The Board has opted not to declare an interim dividend due to economic uncertainty but remains optimistic about a potential year-end dividend.

Powerspeed Electrical Limited, listed on the Zimbabwe Stock Exchange, reported a remarkable 55.3% increase in turnover for the six months ending March 2018, alongside a slight improvement in gross margin. Operating expenses rose by 37.6% due to an expansion program, resulting in a 180% jump in operating profit from $1.19 million to $3.32 million. While borrowings stood at $9.9 million, finance costs increased by 39.6%. Notably, profit after tax surged to over $2 million compared to $581,000 last year, driven by increased demand, particularly in mining.