By Business Reporter
WestProp Holdings Limited (WestProp) has reported a net profit of US$1.8 million for the first quarter ended 31 March 2026, reflecting sustained investor confidence and the company’s commitment to delivering on its strategic objectives.
In a trading update this week, Finance Director Simbarashe Kadye highlighted significant growth across the group. Gross profit rose 72.9% to US$4.06 million from US$2.35 million in Q1 2025, yielding a gross margin of approximately 50%.
Net profit surged from US$1.10 million to US$1.80 million, while gross profit from operations increased to US$2.70 million from US$1.53 million, underpinned by efficiency gains and a diversified revenue base.
Consolidated revenue reached US$8.06 million, an 80.2% increase from US$4.47 million in the prior year, highlighting WestProp’s strengthened market position and effective development strategies.
Pomona City remained the group’s flagship contributor, generating US$4.03 million driven by strong demand for walk-up flats and residential stands. Seatririte delivered US$1.70 million, supported by successful sales at Millennium Heights Block 6 and strong off-plan sales for Block 7. Electro, a new entrant, contributed US$1.26 million, reflecting the success of diversification initiatives.
In the manufacturing segment, TrustProp (aluminium and glass) and Brick Fusion (brick moulding) contributed US$0.38 million and US$0.30 million, respectively, enhancing operational efficiency and reducing reliance on external suppliers. Pokugara added US$0.35 million, reflecting the complete sell-out of Phase 2 units, while ongoing lifestyle developments continued to bolster long-term asset value.
Kadye noted that WestProp enters Q2 2026 with “measured confidence,” supported by steady progress across key projects and a robust development pipeline.
He added that the group’s diversified asset base positions it to deliver sustainable value across residential, commercial, and hospitality portfolios, navigating Zimbabwe’s evolving economic environment while driving long-term growth for shareholders and stakeholders.
