starafrica narrows loss to $3,3m in half year

Diversified conglomerate, starafricacorporation Limited narrowed its loss to $3,3 million for the six months ended September 30 due to an improvement in production and efficiencies as well as disposal of a loss making unit.

In the same period last year, the conglomerate posted a loss of $5,3m.

In a statement accompanying the group’s results, the company’s chairman, Joe Mutizwa said during the six months under review, significant improvement in production, efficiencies and sales resulted in the operating loss decreasing by 84% over the prior period in September 2015.

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