By Alois Vinga
The designated conglomerate, Meikles Limited’s Foundation, has donated $300,000 to build a children’s home for underprivileged children suffering from cancer.
John Moxon, chairman of Meikles Limited, recently presented the group’s financial performance and said the company had taken on a series of humanitarian projects.
“The culmination of the Meikles Foundation’s activities during the reporting period was a commitment of the equivalent of US$300,000 towards the construction of the first phase of Rainbow Children’s Village, a home for pediatric cancer patients from disadvantaged backgrounds,” he said.
“Meikles Limited, as part of its social responsibility, will pay for Meikles Foundation’s pledge to the noble cause. In addition, the foundation and its subsidiaries helped the less fortunate and needy in the communities in which they operate.”
According to the Cancer Association of Zimbabwe (CAZ), childhood cancers come on suddenly with no early symptoms, but have a high probability of treatment.
The association said the most common cancers in children are leukemia, brain tumors, lymphoma and soft tissue sarcoma.
Moxon also said Meikles Limited’s focus in the year under review was to alleviate the suffering of the Covid-19 pandemic.
Meanwhile, during the reporting period, group profit after tax for the year was $373.3 million lower than the prior year of $3.5 billion.
Prior year earnings included cash gains of $4.5 billion, while the year under review recorded a cash loss of $725.2 million, down $5.2 billion from the prior year.
Group sales for continuing operations grew 3% to $28.4 billion, from $27.6 billion at the historic cost of 2020, up from $3.9 billion to $21.9 billion.
Moxon added: “The group continues to operate with a risk-adjusted strategy as Covid-19 conditions impact sectors of our business.”