London, November 18, 2022 - Zimbabwe-focused investment company, Cambria Africa, announced today that it has published its fiscal 2022 and first-half fiscal 2023 accounts. The company also expressed optimism that the suspension of its shares, which have been in place since March 1, would be lifted on Friday.
During the period ending February 28, 2022, Cambria Africa reported a pretax profit of $139,000 and revenue of $451,000. This represents a decrease compared to the first half of the previous year, where the company recorded a profit of $240,000 and revenue of $724,000.
Looking at the full fiscal year ending August 31, 2022, Cambria Africa experienced a 50% decline in pretax profit, amounting to $139,000. Additionally, their revenue also dropped by 24%, reaching $920,000.
While the company remains cautiously optimistic about obtaining full value for its assets beyond their net asset value, management is contemplating whether or not to maintain their listing. Cambria Africa values its shares at 0.027 pence, significantly lower than the book net asset value of 0.084 pence and the company's estimate of 1.04 pence per share.
Chief Executive Samir Shasha urged shareholders to critically evaluate the market's assessment of the discount to the company's book net asset value and management's estimates of realizable NAV. Shasha emphasized the company's commitment to achieving these targets.
For more information about Cambria Africa's fiscal accounts and future plans, please visit their website.
Phone: +000-000-0000
Website: www.cambriaafrica.com
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