By Alois Vinga
LISTED conglomerate, Meikles Limited’s Foundation, has donated US$300 000 towards the construction of a children’s home which will cater for disadvantaged children suffering from cancer.
Presenting the group’s financial performance recently, Meikles Limited chairperson John Moxon said the business concern had adopted a raft of humanitarian projects.
“The climax of Meikles Foundation’s activities during the period under review was a pledge for the equivalent of US$300 000 towards the construction of the first phase of Rainbow Children’s Village, a home for child cancer patients from disadvantaged backgrounds,” he said.
“Meikles Limited, as part of its corporate social responsibility, will pay for Meikles Foundation’s pledge towards the noble cause. In addition, the foundation and the subsidiaries assisted the less privileged and the needy in the communities they operate in.”
According to the Cancer Association of Zimbabwe (CAZ), childhood cancers occur suddenly without any early symptoms but have a high chance of treatment.
The association said the most common children’s cancer are leukemia, brain tumours, lymphoma, and soft tissue sarcoma.
Moxon also said Meikles Limited focus during the year under review was to alleviate the suffering brought by the Covid-19 pandemic.
Meanwhile, during the period under review, the group profit after tax for the year was $373.3 million down from the previous year of $3,5 billion.
Included in the previous year’s profit was a monetary gain of $4,5 billion whereas the year under review recorded a monetary loss of $725,2 million, a decline of $ 5,2 billion from the previous year.
Group revenue for continuing operations grew by 3% to $28,4 billion from $27,6 billion in 2020 historical cost, a growth from $ 3,9 billion to $ 21,9 billion.
Added Moxon: “The group continues to operate with a risk-adjusted strategy as Covid-19 circumstances affect sectors of our business activities.”