adminZSE listed cable manufacturer Cafca’s inflation adjusted profit for the year ended September 30, 2019 marginally grew by 0,25 percent to close the year at $18, 8 million from $18 ,7 million prior year comparative, amid a 24 percent decline in volume uptake.
Cafca published two sets of results showing historical numbers as well as inflation adjusted ones which we refer to in this report. The firm’s reporting follows the Public Accountants and Auditors Board of Zimbabwe (PAAB) call that requires all Zimbabwean entities with reporting periods ending on or after July 1, 2019 to apply hyperinflationary accounting.
Cafca’s inflation adjusted revenue for the period under review modestly grew by 25, 7 percent to $173, 1 million compared to $137,6 million in the prior comparable period while operating profit jumped 219 percent in the positive to close the year at $75 , 6 million from $ 23,7 million in 2018. — Business Reporter.
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