Powerspeed's turnover up 9%

Powerspeed's turnover up 9%
Published: 27 February 2014
Powerspeed's turnover in the four months to January was up 9 percent against the same period last year.

Gross profit was up 19 percent but there was a 4 percent increase in expenses due to the branch network expansion.

The Electrosales Hardware brand has continued to improve its already good position as the foremost supplier of hardware products with continuous improvement to the range of products on offer.

The group had opened four new branches in Harare (Harare Street), Gweru, Chinhoyi and Victoria Falls and this had contributed towards improvement in performance.

At the AGM, directors fees for the past audit were approved at US$36 000 as were auditors fees of US$63 536.

The group also extended its share buyback scheme.
- herald
Tags: Powerspeed,

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