Zimplow narrows loss
STAFF WRITER
Zimplow Holdings Limited has narrowed its half-year loss, supported by improved agricultural performance, stringent cost control, and ongoing restructuring.
The industrial and agricultural equipment supplier posted a loss before tax of US$718,499 for the six months ended June 30, 2025 — a 37% improvement from US$1.14 million in the same period last year.
Chairman Benjamin Kumalo said the recovery was largely driven by stronger performance from agriculture-linked units following a better 2024/25 cropping season, which lifted crop output and disposable incomes. He added that management continued to prioritise balance sheet preservation through the disposal of obsolete equipment and non-core assets, with proceeds channelled toward the Msasa property development project — envisioned as a one-stop mining and logistics hub.
The company confirmed the appointment of Willem Swan as group chief executive officer after serving in an acting capacity since April 2024. Swan replaces Grant Pio, who resigned as non-executive director earlier this year.
Farmec, a key subsidiary, led the rebound with a 17% year-on-year revenue growth, spurred by a sharp rise in tractor and implement sales — up 89% and 9% respectively. Swan noted that strategic supplier engagement and tighter pricing discipline improved margins, strengthening the group’s turnaround momentum.
