Powerspeed Electrical Ltd Opens Electrosales Cardinals Branch

Powerspeed Electrical proudly introduces the Electrosales Benefits Card, a reward program that enhances the shopping experience for Electrosales retail customers. Launched on November 15, 2023, the card allows instant point accumulation on qualifying purchases, which can be redeemed for future transactions at any Electrosales branch. Each card is linked to a single mobile number for secure access, providing customers with SMS notifications for transactions. This program underscores Electrosales' commitment to exceptional customer service and loyalty.

By |2025-05-05T15:20:16+02:00May 5, 2025|News|0 Comments

Powerspeed Electrical Ltd launches Electrosales Trusses through its Timber Division

Powerspeed Electrical proudly introduces the Electrosales Benefits Card, a reward program that enhances the shopping experience for Electrosales retail customers. Launched on November 15, 2023, the card allows instant point accumulation on qualifying purchases, which can be redeemed for future transactions at any Electrosales branch. Each card is linked to a single mobile number for secure access, providing customers with SMS notifications for transactions. This program underscores Electrosales' commitment to exceptional customer service and loyalty.

By |2025-04-03T15:45:11+02:00March 28, 2025|News|0 Comments

Powerspeed Electrical Ltd – Electrosales Southerton Branch Relocates

Powerspeed Electrical proudly introduces the Electrosales Benefits Card, a reward program that enhances the shopping experience for Electrosales retail customers. Launched on November 15, 2023, the card allows instant point accumulation on qualifying purchases, which can be redeemed for future transactions at any Electrosales branch. Each card is linked to a single mobile number for secure access, providing customers with SMS notifications for transactions. This program underscores Electrosales' commitment to exceptional customer service and loyalty.

By |2025-04-03T15:45:40+02:00March 28, 2025|News|0 Comments

Powerspeed Electrical Ltd launches Electrosales Timber Factory in Mutare, Zimbabwe

Powerspeed Electrical proudly introduces the Electrosales Benefits Card, a reward program that enhances the shopping experience for Electrosales retail customers. Launched on November 15, 2023, the card allows instant point accumulation on qualifying purchases, which can be redeemed for future transactions at any Electrosales branch. Each card is linked to a single mobile number for secure access, providing customers with SMS notifications for transactions. This program underscores Electrosales' commitment to exceptional customer service and loyalty.

By |2025-04-03T15:46:13+02:00March 28, 2025|News|0 Comments

Powerspeed Electrical – Opening of Electrosales Hardware Builders Centre in Pomona, Harare

Powerspeed Electrical proudly introduces the Electrosales Benefits Card, a reward program that enhances the shopping experience for Electrosales retail customers. Launched on November 15, 2023, the card allows instant point accumulation on qualifying purchases, which can be redeemed for future transactions at any Electrosales branch. Each card is linked to a single mobile number for secure access, providing customers with SMS notifications for transactions. This program underscores Electrosales' commitment to exceptional customer service and loyalty.

By |2025-04-03T15:46:52+02:00March 21, 2025|News|0 Comments

Powerspeed Electrical – Notice to Shareholders: Cash Dividend Offer

The board has declared a final dividend of USD 3.74 per share for the year ending 30 September 2024, payable to shareholders registered by 10 January 2025. Shareholders can choose to receive the dividend in Zimbabwe Gold Dollars or United States Dollars, with election forms mailed on 17 January 2025. Completed forms must be returned by 7 February 2025. Additionally, there are key dates for trading, record keeping, and payment, with dividends for foreign shareholders subject to exchange control approval.

By |2025-01-10T16:13:46+02:00January 10, 2025|Uncategorized|0 Comments

Powerspeed Electrical Audited Abridged Consolidated Financial Statements for the year ended 30 September 2024

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.

By |2024-12-19T13:40:37+02:00December 19, 2024|Uncategorized|0 Comments

Powerspeed Electrical – Share Consolidation Notice

At the AGM on February 27, 2024, shareholders approved a share consolidation. Key details include: 1. **New Share Certificates**: Current certificates will be invalid from September 16, 2024. New certificates can be collected starting that date. 2. **Fractional Shares**: Shareholders can choose cash or top-up for fractional shares, priced at $0.15 each. Election forms sent to shareholders must be submitted by September 13, 2024, or default to cash. 3. **OTC Trading**: Pre-consolidation trading ends September 13, 2024; trading resumes on post-consolidation shares September 16, 2024. For inquiries, contact First Transfer Secretaries, Harare, Zimbabwe.

By |2024-08-23T14:56:56+02:00August 23, 2024|Uncategorized|0 Comments

Powerspeed Electrical – Reviewed Abridged Interim Consolidated Financial Statements for the six months ended 31 March 2024

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.

By |2024-06-12T11:31:24+02:00June 12, 2024|Uncategorized|0 Comments

Powerspeed Electrical – Notice of the 46th Annual General Meeting

Notice is given for the 46th Annual General Meeting of Powerspeed Electrical Limited on February 27, 2024, at 11 am in Harare. Key agenda items include reviewing the audited financial statements, approving non-executive director emoluments, re-elections of directors, and confirming auditor appointments. Special resolutions will consider adopting new Articles of Association, a Share Option Scheme, share consolidation, and extend the share buyback scheme. Shareholders may appoint proxies for attendance. Full financial results are available on the company’s website.

By |2024-01-29T16:56:57+02:00January 29, 2024|Uncategorized|0 Comments
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