Ariston Holdings Shrinks Half-Year Loss by 32%

Rutendo Mazhindu - ZimNow Reporter

Ariston Holdings Limited has reduced its half-year loss to US$1,437,871 for the six months ended March 31, 2025, a 32 percent improvement from the US $2,101,228 recorded during the same period last year.

The group said revenue fell by 18 percent to US$1,991,087 from US$2,427,642 in the comparative period, mainly due to lower tea sales and subdued export prices.

“The operating environment remains challenging, characterised by increasing input costs and liquidity constraints slowing down the working capital chain,” said Chairman Alexander Crispen Jongwe

Production volumes were significantly lower across key crops, with tea output declining by 45 percent to 1,004 tonnes from 1,830 tonnes recorded last year, while macadamia production dropped 32 percent to 411 tonnes Export tea volumes were affected by weak international prices and the 30 percent retention on export proceeds.

Other products, including commercial maize, seed maize, soybeans, avocados and vegetables, contributed 5 percent to revenue, representing a 16 percent decline from the prior year. Poultry operations, which brought in US$97,154 in the previous period, recorded no sales this year.

Despite the revenue drop, cost containment measures and improved efficiencies reduced the gross loss to US$441,078 from US$781,432 in 2024, while finance costs fell 25 percent and exchange gains rose to US$51,333 from US$231,337 in the previous period.

“In view of the need to revitalise the productive assets and preserve available cash resources, the board has seen it prudent not to declare a dividend,” said Mr Jongwe.

The group said no major capital investment was made during the half-year as restructuring initiatives continued, although US$3 million in new loans was secured to fund working capital and capital .