Most listed firms submit financial results ahead of deadline

By Stanley James Business Editor
ZIMBABWE Stock Exchange (ZSE) listed companies have complied with a directive to publish annual results before the extended 30 April deadline
The release of the financials for the year ending December 31 2021 is in line with standard procedures to help investors and shareholders to assess performance viability and ability to continue operations by listed firms.
Zimbabwe Stock Exchange (ZSE) Chief Executive Officer, Mr Justin Bgoni revealed after the extension of the deadline from end of March to April this year, most of the companies have submitted their full year results.
“Based on what we have it is imperative to note that most of the listed companies have really submitted their audited financials so company performance so far is just on a high note,” he said.
Institute of Sustainability Africa Director, Mr Rodney Ndamba highlighted the importance of including compliance with environmentally friendly policies in their financial results.
“The green economy is really a noble idea but its success also depends on the ability by the firms to publicly declare what they are doing regarding the matter,” he said.
Financials released so far reveal that most companies have posted above market expectation results, despite the impact of Covid-19 during the year under review.
However, very few listed firms have opted to declare dividends to shareholders citing the need to preserve cash resources and injecting capital into expansionary projects.