By Almot Maqolo.
Harare, Zimbabwe (News of the South) – Amalgamated Regional Trading (ART) Corporation recorded an 8 percent increase in revenue to $15.207 million for the half year ended March 31, 2017 owing to increased battery sales in Zimbabwe.
In the period under review, ART’s profit after tax increased from $1.254 million to $892 000.
However, the group also incurred interest on overdue creditor accounts of $290.000 during the half year.
“The Group’s positive trajectory continued in the first half of the year as all business units performed well despite the poor liquidity and foreign currency availability challenges in the environment,” said ART Corporation chairman Thomas Wushe.
“The proactive and prudent measures taken to reduce the cost base and improve operational efficiencies have yielded positive results and cushioned the business against the adverse effects of the operating
environment.”
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