Online Reporter
Tapiwanashe Mangwiro
Axia Corporation Limited delivered a mixed set of results across its core divisions and regional markets for the third quarter to March 31, 2025.
While several segments reported robust top-line growth, others were held back by strategic realignments and challenging macroeconomic conditions.
In the group’s largest retail arm, TV Sales & Home, revenue grew by 5 percent during the third quarter on the back of a 15 percent volume growth compared to the same period the previous year.
“On a year-to-date basis, revenues were up 6 percent while volumes grew 9 percent,” the group said.
Axia attributed the expansion to better pricing and growth in credit sales, noting that the business had opened two new stores during the review period, extending its footprint in key urban centres.
Restapedic emerged as the standout performer, with the group reporting that revenue grew by 21 percent during the third quarter on the back of a 33 percent volume growth compared to the same period the previous year.
“For the nine months to March, revenues were up 16 percent while volumes grew 24 percent,” the group highlighted, adding that the newly opened Bulawayo distribution point and the production of more affordable beds were the primary drivers of this surge.
Legend Lounge, which became a division of Restapedic from January 1, 2025, saw its premium lounge suite sales falter.
The group acknowledged that, “Revenue shed by 9 percent during the third quarter on the back of a marginal volume decline compared to the same period the previous year.”
Year-to-date revenues fell by 10 percent after volumes declined by 6 percent.
The trading update pointed the decrease in aggregate demand for high-end lounge suites due to current economic pressures, adding that management was working on the product mix to cater for all market segments.
Axia’s automotive division, Transerv, posted a solid performance, with revenue growing by 13 percent during the third quarter on the back of a 10 percent volume growth compared to the same period the previous year.
“Over the first three quarters, revenues were up 21 percent while volumes grew 6 percent,” the group said.
This reflected the strengthening of demand for spare parts and oils as well as the competitiveness of their product offering to the market.
