Chronicle Editor
Michael Makuza, Business Reporter
MEIKLES Limited Group says its revenue bulked by 40 percent and 58 percent in inflation-adjusted terms for the third quarter ended 31 December 2022 and the nine months respectively.
In a financial statement for the period under review, Meikles company secretary, Mr Thabani Mpofu, said during the quarter, power supply challenges led to increased use of generators and saw a reduction in operating hours.
“Group revenue grew by 40 percent and 58 percent in inflation-adjusted terms for the quarter and the nine months respectively. In historical cost terms, group revenue grew 399 percent and 411 percent for the quarter and the nine months respectively.
“All operating subsidiaries generated positive cash flows during the period under review,” said Mr Mpofu.
He said sales volumes for the supermarkets’ segment declined by 16,49 percent but were resilient as the growth of 2,5 percent was recorded in the nine months period ended 31 December 2022.
“Room occupancy for the hospitality segment grew by 9,85 percent and 18,43 percentage points for the quarter and nine months respectively. Revenue per available room increased by 94 percent and 210 percent in US$ terms for the quarter and nine months respectively.”
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