adminMeikles Africa Limited says its revenue and earnings before depreciation, tax and amortisation (EBITDA) for the half year period to September 30, 2019 grew by 231 percent and 597 percent respectively.
In a trading update released Friday last week, the Group which is set to dispose its Meikles Hotel said profit for the period attributable to owners of the parent grew by 1 488 percent.
The Hotel business saw room occupancy for continuing operations under hospitality segment retreat to 67,70 percent from 72,56 percent achieved the previous financial year.
Average room rate grew by 5 percent in US$ terms.
For the Supermarkets business, five branches were renovated during the period including completion of Marondera Mall.
The agriculture business saw Tanganda exporting 3 669 tonnes of tea (Prior year 3 638 tonnes) while volume of macadamia nuts and avocado fruit production grew by 234 percent and 34 percent respectively. — Reuters.
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