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.


Here's What Africans Searched For On Google In 2018

It's been a long 12 months, and before we kick 2018 to the curb, we're looking back at all the trends and topics that… 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.