17 April 2018

Zimbabwe: Zeco Remains in the Red

Listed engineering firm, Zeco Holdings, said it losses widened to $2,1 million in the full year to December 2017 from $1,3 million in 2016.

In the period under review, the group generated revenues of $0,513 million compared to $0,369 million in the prior year.

"Revenue could not cover operating costs in spite of cost containment measures, resulting in a negative bottom line of $2,133 million compared to the $1,3 million loss recorded in 2016," group chairman Phillip Chiyangwa said on Monday.

Zeco's asset base stood at $39, 433 million by the end of December last year.


VP Chiwenga Hits Out at Fake Prophecies

Thousands of Christians led by the Roman Catholic Church Sunday converged at Vice President Constantino Chiwenga Hwedza… Read more »

See What Everyone is Watching

Copyright © 2018 Financial Gazette. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.