MARKET WEEK IN VIDEOS
Dairibord optimistic post restructuring….
The country’s largest dairy producer reported a revenue and volumes rebound in the 6 months period to June.
In an interview with Equity Axis, Dairibord CE said the restructuring exercise at consummation will realize net annual savings of $1 million.
Further entrenchment of the consolidation of operations has seen foods and milk operations consolidated at Harare plant while beverages will be consolidated at Chitungwiza.
Head count has significantly reduced to just over 100 personnel while all units are now consolidated under one operation to reduce duplication and related costs associated with deconsolidated operations.
Mandiwanza believes the cost containment will be ongoing while efforts to defend market share and regaining in the case of UHT will be pursued.
A decisive position on loss making but historically significant Malawi operation will be taken by the end of the year.
The second half numbers are coming in strong and Dairibord believes it is on course for a full year profit recovery.
Stock market gains unabated, index nears all time high….
We discuss in house on the stock market performance primarily on a week on week basis and broadly.
A total of 48 counters are now up year to date leaving only less than 8 counters in the red.
In the discussion we looked at the key drivers of the performance and the diminishing allure of alternative assets.
We capped by looking at the short term outlook for stocks
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