Zimplow Holdings Limited has managed to reduce its half-year losses, buoyed by a rebound in agricultural activity, cost-cutting measures, and a restructuring programme aimed at strengthening its operations.
For the six months ended June 30, 2025, the industrial and agricultural equipment supplier reported a loss before tax of US$718,499 — a notable improvement from the US$1.14 million recorded during the same period in 2024.
Board chairman Benjamin Kumalo attributed the improvement to a strong performance by the company’s agriculture-focused divisions, supported by a favourable 2024/25 farming season that boosted crop yields and disposable incomes.
He said management had maintained a disciplined focus on preserving the balance sheet through the disposal of obsolete machinery and non-core assets.
Proceeds from these sales are being channelled into the ongoing Msasa property development project, which Zimplow envisions as a central mining and logistics hub.
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The company also confirmed the appointment of Willem Swan as the substantive group chief executive officer, following his tenure in an acting role since April 2024.
Swan takes over from Grant Pio, who stepped down as non-executive director earlier this year.
Farmec, one of Zimplow’s key subsidiaries, spearheaded the recovery with a 17% increase in revenue year-on-year.
The uptick was driven by robust growth in tractor and implement sales, which rose 89% and 9% respectively.
Swan said improved coordination with suppliers and strict pricing discipline had enhanced margins across the group, positioning Zimplow for a sustained turnaround.
“Our focus remains on driving operational efficiencies and strategic alignment to restore profitability and unlock value for shareholders,” he said.
The company expects continued momentum in the second half of the year, supported by stronger demand in the agricultural sector and ongoing restructuring efforts designed to streamline operations and boost performance across its business units.
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