TSL Limited has announced a remarkable 24% increase in revenue, reaching US$45.6 million for the year ended 31 October 2025. The impressive growth is attributed to improved volumes across all business units, thanks to a successful 2024/2025 summer cropping season.
A stable operating environment boosted TSL Limited’s performance, thanks to the government’s and Reserve Bank of Zimbabwe’s (RBZ) tight monetary policy and exchange rate stability. This created a conducive atmosphere for businesses to thrive, allowing TSL to capitalize on opportunities and drive growth.
The company’s financial performance was nothing short of impressive, with earnings before interest, tax, depreciation, and amortization (EBITDA) jumping 70% to US$19.3 million. Profit for the year from continuing operations surged 85% to US$10.5 million, a testament to the company’s resilience and adaptability.
TSL’s agricultural operations played a significant role in the company’s success, with Packaging Propak Hessian delivering strong results driven by the expansion of the national tobacco crop size. Tobacco Sales Floor also had a stellar performance, handling 81 million kilograms of tobacco, up from 52 million kilograms in the prior year.
The company’s balance sheet is looking healthy, with total assets growing by 11% to US$99.4 million and shareholders’ equity rising by 11% to US$68.4 million. The gearing ratio improved from 18% to 13%, and cash reserves increased fivefold to US$8.6 million.
Infrastructure development remains a key focus area for TSL, with the resumption of construction of a modern 8,000 square metre warehouse at the Hubert Fox Complex in Harare. The company is also winding down operations of discontinued businesses, including farming joint venture Chimayo and car rental services, with a deadline of 31 October 2026 for completion.
TSL’s focus is on delivering sustainable growth, enhancing profitability, and liquidity. Key projects include the development of its 73-hectare land bank in Harare South and the operationalization of the Rutenga multimodal inland port.
Meanwhile, the company has declared a final dividend of US$0.742 cents per ordinary share for the financial year ended 31 October 2025. The dividend will be paid on or about 24 March 2026 to shareholders on record as at 13 February 2026
Overall, TSL’s strong financial performance is a testament to its ability to navigate challenging economic conditions and capitalize on growth opportunities.
