African Sun Limited, a leading hotel and real estate group listed on the Victoria Falls Stock Exchange (VFEX), has announced a clean audit review for its half-year financial results ending June 30, 2025.
The audit was conducted by Grant Thornton Chartered Accountants Zimbabwe, an independent auditing firm.
The independent auditor's review concluded that there were no matters that caused concern regarding the fairness and accuracy of African Sun’s condensed consolidated financial statements. The interim financial statements were found to fairly present the company’s financial position, performance, and cash flows in accordance with the International Accounting Standard IAS 34 on Interim Financial Reporting.
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Key financial highlights for the period include revenue growth to US$23.53 million, up slightly from US$23.06 million in the comparable period of 2024. Earnings before interest, tax, depreciation, and amortization (EBITDA) increased significantly by 60% to US$3.41 million. Notably, the company remains debt-free and holds a healthy cash balance of US$13.78 million, underscoring strong liquidity and operational cash generation.
The company continues to navigate a challenging operating environment characterized by high costs and infrastructure issues but remains optimistic about prospects for increased tourism and business activity in Zimbabwe.
The audit clean opinion provides assurance to shareholders and investors regarding the integrity of African Sun’s financial reporting and the company’s commitment to transparency and governance.
The reviewed financial statements and audit report were approved by the African Sun Board of Directors on August 29, 2025, with Edmore Chimhowa of Grant Thornton as the engagement partner on the review.
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