Celsys recorded a significant increase in profitability and is well placed to meet the growing demand for its core products as the Zimbabwean economy rebuilds. Our understanding is that the Celsys operations are to become cash flow positive by yearend 2010 and we expect revenues of 2.1m in 2011, said the company this week.
This figure excludes revenues from its sister company in Zambia. Celsys, listed on the Zimbabwe Stock Exchange, has a market capitalisation of US$340 000.
The companys strategic review has focused its business model on three key divisions – commercial/security printing, information technology and the mobile pay phone and airtime markets.
The marketing and web design division, in addition to the Nokia and HTC cell phone division, have been closed down. The printing premises in Harare have been upgraded and all Celsys activities operate now under one roof, generating significant cost savings.
Celsys operates through four segments, namely, Celsys Comms, Celsys Print, Celsys IT, and Celsys Marketing. The Celsys Comms segment engages in the sale of cell phones, provision of cell phone repair services, distribution of bulk airtime recharge cards, and ownership, deployment, management, repair, and maintenance of GSM payphones. The print segment provides a range of printing solutions for businesses, security printing services for various items, such as cheque books, share certificates, and airtime recharge cards and commercial printing and scratch card production services.
The IT segment distributes a range of software solutions to protect data, computer networks, and systems against attack by computer viruses, spam, malware, hackers, and phishers; and provides automated teller machines (ATMs) and leases point of sales (POS) terminals to banks.
Post published in: Agriculture