There were 5 Stock Exchange News Services (SENS) announcements in week 44 on the LuSE; 1 from Madison Financial Services(MFIN/MAFS);2 from Zambia Sugar(ZSUG);1 from ZCCM Investment Holdings ZCCM-IH;1 from Zambian Breweries(ZAMBREW).
MADISON FINANCIAL SERVICES;FURTHER CAUTIONARY RENEWAL
Shareholders are referred to the First Cautionary Announcement issued on 3April 2020 and the subsequent Further Cautionary Announcements wherein the Board of Directors of Madison Financial Services PLC (“the Board”) (“MFS” or “the Company” or “the Group”) informed the shareholders and the market that the Board and Management of MFS have a general mandate to explore and identify specific assets that would be earmarked and considered for disposal by the Company to raise capital to meet some of the Group’s liabilities.
ZAMBIA SUGAR ; FINANCIAL PERFORMANCE
Financial Performance Review
Total revenue for the year ended 31 August 2022 was K5.111 billion, 2.4% above the prior year comparative, bolstered largely by a 5% growth in domestic sales volume. Export sales were down compared to previous year as priority was given to satisfying the domestic market in view of limited stocks and the Kwacha appreciation against the US dollar over the year resulting in lower realisations.
NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the 61st annual general meeting of the members of the Company will be held virtually on https://eagm.creg.co.zw/eagm/Login.aspx and at the Radisson Blu Hotel, Lusaka, Zambia on Thursday, 24 November 2022 at 09h00. The voting at the Annual General Meeting will be electronically on https://eagm.creg.co.zw/eagm/Login.aspx.
ZCCM-IH; FINANCIAL PERFORMANCE
• The Group recorded a turnover of ZMW7.5 billion (US$ 435 million) for the six-month period ended 30th June 2022 compared to ZMW8.3 billion (US$ 368 million) reported during the six months to 30th June 2021.
• The Group’s share of profit of equity accounted investee companies was ZMW1.343 billion (US$ 78.4 million) compared to June 2021 of ZMW1.475 billion (US$ 65.6 million).
• Overall, the Group recorded a loss after tax of ZMW817.4 million compared to a profit of ZMW479.7 million in the six months period to 30th June 2021.
• The Group’s total assets reduced to ZMW59.1 billion as of 30th June 2022 from ZMW72.8 billion as of 30th June 2021 due to the decrease in foreign denominated assets arising from the appreciation of the Zambian Kwacha during the period.
ZAMBIAN BREWERIES;NEWS RELEASE
Zambian Breweries has hailed the wider social economic benefits of this year’s Mosi Day of Thunder in empowering local artists and boosting business for the tourist capital of Livingstone.
The long Independence weekend saw tens of thousands travel from far and wide travel to celebrate the nation’s oneness in the tourist capital of Zambia.
