Zimbabwe Stock Exchange listed company Ariston Holdings Limited recorded a revenue of $5.31 million in the six months ended 31 March 2018, a 53 percent rise from the $3.48 million reported last year.
According to the Group financial results, increase in revenue were as a result of combined effect of significant volume and pricing improvements.
“The 53% increase in revenue arose out of the combined effect of significant volume and pricing improvements.
“Other operating income improved to US$1.27 million from US$0.16 million in the prior comparative period,” reads the report.
Ariston further reported that it had completed the harvesting and selling of stone fruit during the period under review.
“Harvesting and selling of stone fruit for the current year had been completed by half year. Current year revenue at US$0.46 million was 72.8% ahead of prior year due to improved quality and increased exports.
“The Group posted a profit from operations of US$0.63 million in the six-month period ended 31 March 2018 compared to a loss from operations of US$1.40 million posted in the prior comparative period. Finance costs at US$0.67 million were marginally below prior year,” they said.
During the current half year, the Group completed the restructuring of a portion of its borrowings into a facility with a longer tenure which enables the matching of repayments to future cash inflows.
