Zimbabwe

Innscor Africa Limited: HY 20: Price adjustments sustain top line

  • Currency devaluation constrains consumer spending

  • Product line diversification and production efficiencies to sustain profitability

  • Maintain Buy, TP ofZWL15.76; we forecast revenue in FY 20 to improve by 381.1% to ZWL6.18bn

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April 3rd, 2020
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The analyst(s) who prepared this research report hereby certifies(y) that: (i) all of the views and opinions expressed in this research report accurately reflect the research analyst’s(s) personal views about the subject investment(s) and issuer(s) and (ii) no part of the analyst’s(s) compensation was, is or will be directly or indirectly related to the specific recommendations or views expressed by the analyst(s) in this research report.

This document has been prepared by IH Securities to provide background information about the securities and (or) markets mentioned herein, the forecasts, opinions and expectations are entirely those of IH Securities. This document was prepared with the utmost due care and consideration for accuracy and factual information; the forecasts, opinions and expectations are deemed to be fair and reasonable. However, there can be no assurance that future results or events will be consistent with any such forecasts, opinions and expectations. Therefore, the authors will not incur any liability for any loss arising from any use of this document or its contents or otherwise arising in connection therewith. Neither will the sources of information or any other related parties be held responsible for any form of action that is taken as a result of the proliferation of this document.

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