Axia Corp – FY2022 ZWL attributable earnings increased by 152%
Axia Corporation FY June 2022 earnings in ZW$ were up 152% against an inflation rate of 192%. In US$ terms earnings were US$4.4m down from US$5.1m in the year prior. H2 2022 saw a down turn with earnings of US$0.1m, down from US$4.3m in H1 2022.
Highlights:
- Dividend increased sharply during the year.
- Full year sales increased by 124% relative an inflation of 192%.
- Full year operating margins increased to 20% compared to 16% year prior.
- H2 2022 operating margins were lower at 17% compared to 24% in H1 2022.
Investor Issues
Operating environment challenging (management).
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About the Author: Hartland-Peel Africa Equity Research
Sub-Saharan Africa ex SA: Equity, debt and FX research covering sixteen countries and advising institutional investors. Proprietary data base of sixteen African stock markets, 250+ companies which is one of the most extensive and complete. New issues, IPO’s and distribution of equity on privatisation. Development of lending and corporate finance opportunities for the bank, privatisation and asset management. An ‘A’ rated equity analyst by South African institutional investors as polled by the Financial Mail in 1998 and 1999.
