Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Cambria Africa said achieved record first-half profits, but warned that earnings in the second half of the year would be impacted by the rapid devaluation in Zimbabwe's currency. .
'The company expects its earnings in the second half to be impacted as a result of rapid devaluation in the exchange rate,' Cambria said.
Cambria's net profit increased 50% to a record $1.66m for the six months ended 28 February 2019 compared to the same period in 2018, but revenue fell 4% to $4.34m, while consolidated earnings (EBITDA) increased 23% to a record $2.06m from $1.67m for the same period in last year.
The rise in profits was supported by the restructuring and streamlining of operations at its Payserv segment, which achieved record profit before tax of $1.91m.
At 9:53am: (LON:CMB) Cambria Africa share price was -0.2p at 0.95p