WestProp Records 16.3% Revenue Surge, Announces Major Share Split Amid Strong H1 2026 Growth

Business Reporter

WestProp Holdings Limited, listed on the Victoria Falls Exchange (VFEX), delivered strong results for the half-year ending June 30, 2026. Revenue rose 16.3% to US14.91 million, up from US$12.82 million in the previous year.

The latest results were driven by the first-time consolidation of Sunshine Developments, Electro Properties, and Brick Fusion Manufacturing.

Millennium Heights led revenue contributions, generating US$ 5.19million up from US$ 3.28 million a year earlier—and accounting for 34.8% of total group revenue. Pomona City followed, bringing in US$4.99 million, a 21.3% year-on-year increase fueled by strong demand for its Walk-Up Flats.

In contrast, Pokugara Residential Estate saw revenue fall to US$ 350 000 from US$5.43 million as most units were sold, leaving only final handovers.

Gross profit grew 9.5% to US7.49million from US$ 6.83 million in the first half of 2025.

However, the gross margin narrowed to 50.2% from 53.3%, mainly due to changes in the product mix and reduced margins at Millennium Heights. This was partly offset by Pomona City’s margin, which expanded to 57.7%.

To improve market liquidity, WestProp approved a 100-for-3 share split, increasing its issued shares from 30 million to US$1 billion. This restructuring aims to make shares more accessible to investors.

On the balance sheet, total assets increased 9.1% to US$ 261.79 million .

Growth was attributed to ongoing development at The Hills, expansion in hospitality, and the inclusion of Sunshine Developments.

WestProp’s strategic initiatives and steady growth position it as a prominent player in Zimbabwe’s property sector.