ZCCM-Investments Holdings says the Group recorded turnover of K61 million as compared to the K95 million recorded in 2017 in the first quarter of 2018.
The company says the decrease in turnover is attributed to low sales at Ndola Lime Company Limited due to increased competition in lime market as well as technical challenges which negatively affected the production and sales of lime and related products.
ZCCM-IH Company Secretary Chabby Chabala in an Abridged Audited Financial Results 31st March 2018, says the Group recorded an operating profit of K47 million as compared to the K848 million in 2017 in the same period.
Mr. Chabala says the decrease is mainly due to Ndola Lime Company Limited’s Subsidiary continued loss making position, which contributed an operating loss of K167 million as compared to K1.2 billion recorded in 2017.
In a statement posted on Lusaka Securities Exchange, he says the impairment of the investment in Konkola Copper Mines Plc amounting to K218million was also part of the decrease and decrease in copper price participation income from K719 million in 2017 to K360 million in 2018.
“The Group recorded a positive share of profit from equity accounted investee companies of K689 million in 2017, loss K189 million. This movement represents 464% increase,” he said.
Mr. Chabala states that London Metal Exchange copper price increased by 14.8% to US$ 6, 724/ton in 2017 to US$5,858/ton during the year.
He adds that the Group’s total assets increased by 8 % from K9, 579 million in 2017 to K10, 332 million in 2018 on account of increase in the net assets of investee companies whose performance continued to improve during the year.

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