Heavyweight counters lift industrial index

PG Industries gained US0,5c to and Turnall  was up US0,49c to US4,5c. Distiller Afdis gained US0,1c to US16,1c after reporting a solid set of results, showing attributable earnings of US$1,1 million.
The performance was driven by strong volumes growth and margin expansion. Sales volumes grew 28,3 percent to about 4,7 million litres.
Local production grew 64 percent to 2,7 million litres and accounted for 62,4 percent of total revenue.
Gross profit margins expanded to 31,4 percent from 29,1 percent on improved sales mix.
Clothing retailer Edgars also gained US0,1c to US7,6c. The company reported revenue for six months to June grew 22,8 percent to US$25,2 million.
Edgars chain contributed 83 percent of the total revenue. Jet chain achieved a turnover of US$4,1 million, constituting 17 percent of total turnover.
Unit sales growth was recorded across the chains, with the Edgars chain recording a 2,8 percent growth.
Net profit was US$936 995 translating to an earnings per share of US0,38c.
On the downside, Zimplow fell US0,4c to US5,5c. Pearl retreated US0,1c to US2,7c and Mashonaland Holdings dropped US0,19c to US2,40c.
Total revenue for the day rose to US$2,7 million from US$485 996 recorded on Tuesday. The volume of  shares traded came in at about 6,63 million.
The ZSE has been significantly impacted by political uncertainties, which include a pending general election and the ongoing liquidity crunch.
But analysts say the situation has created attractive valuations for some companies which have managed to stay afloat.
Meanwhile, Celsys said yesterday that the proposed delisting of the company and the secondary listing of Cambria Africa Plc on the ZSE had been rescheduled to take place after publication of Cambria’s audited results for the year ended August 31 2012.
The scheme of arrangement will be implemented when the proposed ZSE listing of Cambria takes place.