adminagriculture and construction industries.
Group revenues increased 5,5 percent against growth of 66 percent in operating expenses. Revenue increased to US$2,1 million from US$2 million recorded the previous year.
Cost of sales for the group were at US$1,1 million and administration expenses were at US$3,7 million for the year.
Commenting on the results, board chairman Mr Philip Chiyangwa said growth in expenditure has buoyed the increased depreciation base. “The quality of the group’s earnings is reflective of the crisis bedevilling the industries we are operating in. Most capital projects are on hold until the funding becomes available,” said Mr Chiyangwa. He added that Zeco was negotiating for funding to finance some projects on behalf of their clients.
Zeco is one of the smallest companies on the stock exchange valued at less than US$1 million. Going forward, Mr Chiyangwa said that Zeco would be profitable based on activities on the ground and the continued growth in sectors that feed into their business. The construction sector is expected to grow by about 1,5 percent this year, up from a percent recorded the previous year.
Online Reporter
- Herald
- July 31, 2026
- 24 views
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