Market report: Copper price spurs Cafca to profitability

by Sunday News Online | Sunday, Mar 11, 2018 | 242 views

CAFCA’S Profitability has been improved by a favourable copper price, changes to trading terms and a change in sales mix from aluminium to copper products. The prior year was adversely affected by a volume decrease that resulted in break-even months until the cost base was significantly reduced — this cost base has since been maintained.

The All Share index closed the week at 86.25 points following a 0.15 points (0,17 percent) loss. British America Tobacco led the losers with a $0,2500 decrease to settle at $19,7500, Hippo came off $0,0207 to end at $1,6793 as Padenga dropped $0,0048 to $0,4150. Econet shed $0,0027 to close at $0,6700, Mashonaland Holdings eased $0,0009 to $0,0270 while First Mutual Holding was $0,0005 weaker at $0,1695.

Five counters gained ground including Old Mutual which added $0,0100 to close at $5,4200, Innscor was up by $0,0050 to $0,9350 while PPC Limited rose by $0,0018 to end at $0,9218. Dairiboard put on $0,0005 to trade at $0,1120 and CBZ Holdings inched up $0,0001 to end at 0,1035.

- All Share Index dropped by 1.01 points (1,16 percent).
- Industrial Index came off 3.18 points (1,09 percent).
- Top 10 Index eased 1.14 points (1,32 percent).
- Mining Index shed 4.15 points (3,32 percent).

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