Three weeks into June 2020 bond trading, the equities market regains its glory as it recorded a 40% to 60% on the bond market. Although it is not as great as we saw in final week of May but just as good for the month of June.
Equity Market Update
In the week ended 19th June 2020, a total of 942,179,731 shares were transacted in 168 trades, yielding a market turnover of K122,523,027. Trading activity was recorded in AEL ZAMBIA, AIRTEL, CEC ZAMBIA, LAFARGE, PUMA, ZAMBEEF, ZANACO and CEC AFRICA on the quoted tier. The Index (LASI) closed at 3,944.98 points. The market closed on a capitalization of K55,991,569,876 including Shoprite Holdings and K21,752,363,896 excluding Shoprite Holdings.
Bond Market Update
During the week, bonds of total face value of K301,294,000 were transacted in 35 trades, yielding a market value sales of K182,077,000.
Important announcements
METAL FABRICATORS OF ZAMBIA PLC
In compliance with the Securities Act No. 17 of 2016 and the Listing Requirements of the Lusaka Securities Exchange, the Board of Metal Fabricators of Zambia PLC (“ZAMEFA” or “the Company”), is pleased to announce its separate and consolidated results for the six month period (“Period”) ended 31st March 2020.
ZAMBEEF PRODUCTS PLC
The half-year period ended 31st March 2020 (HY 2020) saw Zambeef post encouraging results in the context of a very challenging macroeconomic environment. During this period, the Zambian Kwacha weakened by 37%, resulting in short to medium term record inflation. The high inflation coupled with a tight monetary policy eroded the purchasing power of our customers. The challenges stemming from reduced electricity generation, on the back of a regional record drought, significantly increased operational costs that eroded margins and some of our divisions were unable to pass on the increases to our customers.