RioZim wary of rising production costs

The group remains a high-cost inefficient producer and during the period under review saw its gross margins decrease to 1,37 percent from four percent in the comparable period previous year.

By Prisca TshumaStaff writerAdvertisementsRioZim Limited (RioZim) recorded a significant increase in production costs during the six months to June 30, 2024 attributed to unstable exchange rates.In a statement on the company’s half-year financial results, chairman Saleem Beebeejaun said the Zimbabwean dollar’s (ZW$) depreciation at the start of the year caused price inflation, which increased costs.The…

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