Zimbabwe Stock Exchange listed manufacturing firm African Distillers AFDIS has registered a 10 percent growth in revenue during the six months to December 2016 spurred by improved sales and cost reduction.
The spirits and wine maker managed to post commendable results despite the depressed operating environment.
For the period under review, revenue for the firm amounted to US$14 million representing a 10 percent growth.
The firm’s chairperson Mr Pearson Gowero said apart from the cost reduction drive, the entity was able to exploit the opportunities presented by the policy measures adopted during the year which favoured local production.
Operating income for the period increased 17 percent to US$2.5 million, attributable to increased revenues and reduced operating costs which declined by US$344 000.
In the outlook the company says it will focus on exploiting revenue growth opportunities as well as control measures to improve profitability.
Government has prioritised increased production on the local industry with the availing of measures aimed at enhancing the competitiveness of local products including the implementation of statutory instrument 64 of 2016.