ZECO Holdings Limited recorded subdued shop occupancy in the third quarter ending 30 September 2024.
Shop occupancy at 30.77%, was down from 48.14% in the same period last year. However the company expects an improvement in the last quarter on the backdrop of the roll out of marketing activities and enhanced current renovations. The company anticipate more income from increased office space as well, which will improve working capital.
Revenue for the period under review increased by 51% to ZWG 941, 913.40, while the previous year’s third quarter revenue was ZWG 621,867.75.
Administration expenses stood at 15.24% and Property expenses at 8.24% for the quarter.
The El Nino induced drought has impacted the company negatively as the effects of the phenomenon impact on the operating and productions expenses.
The company has crafted strategies to generate new business and innovate as it navigates the competitive environment by pursuing new market segments.
