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ZIMBABWE Stock Exchange-listed firm Border Timbers says revenue for the 11 months to May 2019 rose 66 percent to $32 million from $19 million in the same period last year.
Border attributed the growth to improved quality hence better average selling prices for its lumber.
Net loss amounted to $9,8 million from a profit before tax of $2,6 million and this was a result of unrealised exchange losses on foreign debts amounting to $10,783 million.
According to Border, the loss before tax for the 11 months under review excludes the effects of the final biological asset valuation which will be conducted at year end.
ALL SHARE
The All Share index recovered 0.36 points 0,22 percent to close the week at 166.36 points. Econet gained $0,0559 to $1,2573, NMB added $0,0350 to close at $0,3150 and SeedCo International Limited was $0,0260 firmer at $2,2000. OK Zimbabwe also gained by $0,0052 to $0,2950 and Masimba traded $0,0037 stronger at $0,0837.
Gains were offset by losses in Meikles which lost $0,1000 to $1,2000, PPC eased $0,0959 to end at $2,0041 and Innscor traded $0,0239 lower at $1,8607. Dairibord also decreased by $0,0200 to $0,2900 and Powerspeed (PWS.zw) retreated by $0,0159 to settle at $0,2500.
Londile Moyo
Online Reporter