Zimpapers shines on ZSE
THE country’s largest and only listed media group, Zimpapers, has enjoyed a fine run on the Zimbabwe Stock Exchange (ZSE) after its share price jumped by 183 percent since beginning of the year riding on strong performance last year.
By close of trade yesterday, Zimpapers’ share price was pegged at 8,16 cents, which was 183 percent above its year opening price, making it the best performer so far ahead of Edgars, African Sun, Unifreight and Willdale that have ticked 54 percent, 50 percent, 44 percent and 37 percent respectively.
Zimpapers’ performance has been ahead of the overall stock market performance.
The primary indicator, the ZSE All Share Index has moved 6,04 percent from its year opening level while the Industrials Index put on 6,22 percent.
Since beginning of the year the group has seen $80 996 worth of its shares exchange hands.
The group is riding on the strong performance achieved in financial year 2018, where it reported a profit of $4,2 million despite the challenging operating environment characterised by foreign currency shortages.
In 2018, Zimpapers became a fully integrated media house with the coming on board of Zimpapers Televison Network (ZTN). Group chief executive Pikirayi Deketeke said the investment into television was in line with the group’s thrust adopted in 2011, of becoming a fully integrated media group incorporating, print and broadcasting services.
“We have been investing in TV to ensure that we unveil a professional set-up,” said Mr Deketeke.
“We started with newspapers over a 100 years ago but in 2012 we made the bold decision to enter into radio broadcasting after observing trends and realising that this was where the advertising dollar was going,” he said.
But that’s not all.
Last November the group re-opened Typocrafters under its commercial printing division, contributing towards job creation in the country.
The group has added to its portfolio exercise book making, as part of efforts to further consolidate its market share.
Mr Deketeke said it was imperative for the group to continue re-evaluating its business models and tweaking them to remain relevant to the market as well as consolidate its position as a market leader.
“We have since realised that if we fail to innovate, we will die,” he said.
The group has also made investments towards renewing its infrastructure as a business to improve ambience and maintain international standards.
Renovations have been undertaken at across the group’s buildings with work rolled out at Herald House, Typocrafters in Bulawayo, Chronicle Building in Bulawayo and Capitalk studios, which houses both the Capitalk and the Bold Ads teams.