Online Reporter
Business Reporter
Construction giant Masimba Holdings has reported a 13 percent decline in revenue to US$25,4 million for the half-year ended June 30, 2026, down from US$29,2 million in 2025, hit by funding bottlenecks and delayed implementation of public sector infrastructure projects.
Profit after tax fell 10 percent to US$2,7 million, compared to US$3 million recorded in the prior period.
Management attributed the top-line contraction primarily to slower execution of State-funded projects, where irregular funding cycles hampered progress.
However, private sector contracts—particularly in the mining industry—and key infrastructure completions helped cushion profitability.
Despite persistent liquidity constraints and cash collection hurdles, Masimba’s capital base expanded, with net assets growing to US$38 million from US$36,4 million as of December 31, 2025.
The group enters the second half of the year anchored by an estimated US$320 million secured order book, providing significant revenue visibility. Operational highlights during the period included the successful completion of multiple commercial contracts in the mining sector.
Under public infrastructure, the group delivered 16 kilometres of the Kezi–Maphisa Road project. In bridge construction works, the group officially opened Chevron Bridge to traffic.
To maintain operational capacity and support project delivery, Masimba deployed US$2,6 million in capital expenditure, targeting fleet reliability and operational efficiency.
Net working capital increased to US$22,8 million, up from US$19,2 million at the end of 2025.
Management highlighted receivables conversion and disciplined cash collection as primary operational priorities to manage second-half liquidity requirements.
