TSL Limited reviews modest development amid market uncertainties

TSL Limited launched its monetary outcomes for the yr ended October 31, 2024, revealing a modest 1 p.c income development from US$36,7 million in FY2023 to US$36,9 million.

While most enterprise models met their budgeted volumes, Agricura confronted challenges because of drought within the first half of the 2023/24 agricultural season. Despite the slight income improve, the group’s EBITDA declined by 5 p.c, dropping from US$11,99 million in FY2023 to US$11,39 million, primarily as a result of conversion to US {dollars}.

In a strategic transfer to preserve money forward of its deliberate acquisition of a 51,43 p.c stake in Nampak Zimbabwe

Limited from Nampak Southern Africa Holdings Limited, TSL’s board opted to not declare a dividend for the interval.

The choice displays the corporate’s concentrate on enlargement and strengthening its market place, whilst exterior pressures, together with hostile climate situations and forex shifts, impression efficiency.

Meanwhile, the broader Zimbabwean equities market has proven combined efficiency. On March 3, 2025, the ZSE All Share Index (ALSI) dipped by 0,18 p.c to 203.70 factors, whereas the Top 10 Index climbed 0,43 p.c to 203.78 factors, indicating resilience among the many market’s main shares.

The ZSE market capitalization edged up 0,26 p.c to US$2,33 billion, reflecting general optimistic sentiment. On the VFEX, the ALSI elevated by 0,40 p.c to 105.68 factors, with the market cap rising 0,42 p.c to US$1,19 billion, albeit with restricted buying and selling volumes.

Simbisa Brands additionally launched its half-year outcomes, reporting a 7,3 p.c income improve to US$157 million.

However, earnings declined by 11 p.c to US$8,71 million, highlighting the stress on profitability regardless of strong top-line development.

The firm maintained robust money flows, with money from operations surging 39 p.c to US$29,35 million.

Looking forward, Platinum Securities anticipates that, “The month-end-driven surge in equity prices will persist before stabilizing towards the end of the week.”

However, the VFEX is predicted to see subdued exercise because of low investor participation, as capital continues to be directed in the direction of competing USD-denominated property and restricted international funding.

Overall, the market stays in a state of cautious optimism, with traders balancing company earnings efficiency, financial coverage adjustments, and sectoral headwinds as they place themselves for the months forward.