NDH makes $4,9b loss

Staff Writer

LEADING financial and investment institution NDH Holdings Ltd (NDH) says it made a monetary loss of $4,9 billion for the year ended December 31 2002.

P>The group said this was indicative of the country’s hyper-inflationary environment. It said based on current cost, the group posted a loss before taxation of $3,133 billion.

Led by group managing director Ernest Matienga, NDH comprises National Discount House Ltd, NDH Equities (Pvt) Ltd, NDH Asset Managers Zimbabwe (Pvt) Ltd and Ludham Investments (Pvt) Ltd. The company said profit before taxation of $861,9 million was a reduction from last year’s figure.

NDH said however, this performance was expected given that the windfall gains made in 2001 were unlikely to recur.