TSL Limited H1 2022 sales revenue increased by 81%

Published On: September 22, 2022By Tags: Southern-Africa

TSL Limited, H1 2022 sales revenue increased by 81% against an inflation rate of 96%.

Highlights:

  • Q3 2022 revenue increased by 363% against an inflation rate of 257%.
  • H1 2022 operating margins decreased to 24% from 42% in H1 2021.
  • The Group has significant foreign currency earnings which are converted at the RBZ official market rate.
  • Tobacco auction tonnage decreased by 5% in H1 2022.
  • A new tobacco floor was opened in Mvurwi and is operating successfully.
  • TSL has seen growth in the logistics business as it added trucking and rail services to Maputo.
  • Zimbabwe Mercantile Exchange was launched during the year.

Investor Issues

Fair value and foreign exchange gains made up 58% of H1 2022 earnings.

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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.