Highlights for the year under review are summarised below:
• Revenue increased by 37% from $39.9 million to $54.4 million;
• Improved operating space as a result of the Scheme of arrangement;
• 32% reduction in cost of sales as a result of cost cutting measures implemented during the year;
• Improved rail logistics as a result of the revival of the National Railways of Zimbabwe;
• Supplier contracts reviews and low cost production strategy on course.
On behalf of the Board of Directors, I present the audited financial results of Hwange Colliery Company Limited for the year ended 31 December 2017.