The raw sugar processor said the improved performance was attributable to capital investment and equipment maintenance in the preceding period, which drove production.
As such, Gold Star Sugar Harare (GSSH) volumes rose to 39 294 tonnes from 26 959 tonnes in the prior year comparative period, representing a 46 percent growth in sales.
However, the improved volume uptake in the period led to a 38 percent increase in inflation-adjusted revenue to
Resultantly, profit grew by 43,5 percent to
Acting chairperson Dr Rungano Mbire noted in a statement accompanying group results that the period under review was buoyed by encouraging product demand and better manufacturing output.
However, he acknowledged Covid-19 pandemic, intermittent supply of electricity and water negatively impacted some of the company's operations despite a noticeable stability in the economic environment.
"The escalation was largely buoyed by the enhanced throughput at Goldstar Sugars and the strength of the demand for all the groups' products which remained high during the period under review
The improved turnover represented a recovery from the prior year's depressed performance, which had been caused by a two week long shutdown from July to
"The period was characterised by a healthier economic environment although electricity and water supply remained erratic during the period under review," said Dr Mbire.
Dr Mbire said the operating environment during the period under review saw the year-on-year inflation rate tumbling to double digit numbers from
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