News / National
Chiyangwa's Zeco remains in the red
19 Apr 2018 at 01:55hrs | Views
Listed engineering firm, Zeco Holdings, said it losses widened to $2,1 million in the full year to December 2017 from $1,3 million in 2016.
In the period under review, the group generated revenues of $0,513 million compared to $0,369 million in the prior year.
"Revenue could not cover operating costs in spite of cost containment measures, resulting in a negative bottom line of $2,133 million compared to the $1,3 million loss recorded in 2016," group chairman Phillip Chiyangwa said on Monday.
Zeco's asset base stood at $39, 433 million by the end of December last year.
In the period under review, the group generated revenues of $0,513 million compared to $0,369 million in the prior year.
"Revenue could not cover operating costs in spite of cost containment measures, resulting in a negative bottom line of $2,133 million compared to the $1,3 million loss recorded in 2016," group chairman Phillip Chiyangwa said on Monday.
Zeco's asset base stood at $39, 433 million by the end of December last year.
Source - Fin Gaz
