Diversified group TSL Limited posted strong interim results
for the half year ended 30 April 2026, with profit after tax rising 45percent
to US$5.6 million, supported by robust performances across its agriculture,
logistics and tobacco-related businesses.
Revenue grew 33 percent to US$26.2 million from US$19.7
million in the comparable period last year, while profit before tax increased
39 percent to US$7.4 million.
Earnings before
interest, taxation, depreciation and amortisation (EBITDA) rose 29 percent to
US$9.7 million.
TSL chairman Antony Mandiwanza said the group benefited from
a more stable economic environment and a stronger agricultural season.
“The operating environment during the period under review
was more favourable than in the previous year, underpinned by a stable
macroeconomic environment and better rainfall season,” Mandiwanza said in a
statement accompanying the results.
He said strong demand across the group’s business units,
coupled with cost optimisation measures and lower finance charges, helped drive
profitability.
Agricultural trading subsidiary Agricura was among the
standout performers, recording strong demand for crop inputs during the 2025/26
summer cropping season. Crop chemical volumes increased by 47 percent, while
animal health volumes rose 29percent.
The group’s tobacco-related services business also delivered
solid growth. Tobacco Sales Floor handled 36 million kilograms of contract
tobacco during the period, an 87percent increase from the previous year, while
auction volumes rose 31percent to five million kilograms.
“Despite the softer pricing environment, the total volume
for the 2025/2026 tobacco marketing season is expected to surpass the 355
million kilograms achieved in the previous year,” Mandiwanza said.
Within the logistics division, forklift utilisation improved
17percent, while general cargo handling volumes increased 33percent. Storage
volumes climbed 42percent, reflecting stronger demand from both existing and
new customers.
TSL also continued investing in infrastructure. During the
period, the company completed a 4,567-square-metre warehouse at its Hubert Fox
Complex in Harare and commenced construction of a second facility measuring
3,433 square metres.