Investor Relations

Performance Highlights

HY – 2023

The Group’s inflation adjusted Net Property Income increased by 10% to ZWL1.333 billion (HY 2022: ZWL1.213 billion) together with growth in inflation adjusted revenue of 119% to ZWL8.026 billion (HY 2022: ZWL3.661 billion). Rental income remains the main source of revenue.

FMP HY2023: Revenue: +119%
FMP HY2023: Net Property Income +10%
FMP HY2023: Total Assets: +149%

Despite the ongoing uncertainty, the business will not deviate from its growth strategies that are aimed at increasing shareholder value. This includes investing in lucrative properties that can serve as a safeguard against inflation and exchange rate risks.

Elisha K. Moyo, Chairman of the Board

Simbisa Brands

First Mutual Properties Limited

First Mutual Properties, formerly known as Pearl Properties Limited, is a subsidiary of First Mutual Holdings. It is a real estate company with vested interests in the development and management of commercial properties in the major towns of Zimbabwe.

First Mutual Properties has a significant property portfolio, comprising some 124 178 square metres of lettable space made up of office parks, retail shops, commercial and industrial property. It owns and manages 41 buildings in the major economic hubs of Zimbabwe, including high-rise commercial buildings, industrial and warehouse properties and retail outlets. First Mutual Properties also has a residential trading stock of two- and three-bedroomed garden flats in Avondale, Harare.

Company Information

Registered Name First Mutual Properties Limited (FMP.zw)
ISIN ZW 000 901 202 3
Ticker Code FMP.zw
Sector Property
Stock Exchange Zimbabwe Stock Exchange
Chairman Elisha K. Moyo
Managing Director Christopher K. Manyowa
Company Secretary Sheila Frances Lorimer
Transfer Secretary Corpserve Registrars (Pvt) Ltd (zw)
Year End December
Year Founded 2006
Year Listed 2007

3 Reasons to Consider Investing in First Mutual Properties Limited

Prime Investments

Investments in prime properties in the major towns and cities of Zimbabwe, comprising about 122 300 square metres of lettable space made up of office parks, retail shops, commercial and industrial space

Value Creation Trend

Our strategy is based on and informed by three pillars underpinning the core business, namely, risk management, wealth creation and wealth management

Strategic Positioning

The Group remains strategically positioned to exploit opportunities that may arise within the market through its investments in brownfield and prime greenfield developmental sites

Our Share Price in Action

Share Quote

ZWL580.00
0.00 / 0.00%
 
Year to date  80.10%
52 Week Change  3,654.05%
 
52 Week Low 52 Week High
14.52 598.00
Company alerts available

Latest Activity

Trade Date March 18, 2024
Bid 580.00
Ask 580.00
Sales ZWL
Volume Traded 0
Value Traded ZWL 0
Liquidity (12m) ZWL 68.3B

Market Info

Sector Property
Exchange Zimbabwe Stock Exchange
ISIN ZW 000 901 202 3
Year End December
Founded 2006
Listed 2007
Managing Director Christopher K. Manyowa

Fundamentals

Shares 1,238,157,310
Market Cap ZWL 718.1B
P/E 0.23
Div. Yield 10.46%
EPS ZWL 2,551.00
P/B Ratio 7.23
EV / Ebitda 20.84
* TTM

Investor News

Financial Summary

The facts that affect FMP’s underlying value.

 31 Dec 2231 Dec 2131 Dec 2031 Dec 1931 Dec 18
Revenues2,900,532,0002,044,479,000427,147,000260,666,00065,761,000
Attributable PAT 31,580,248,00019,975,859,0005,817,703,0001,517,567,00023,170,000
Shareholders Funds99,268,411,00068,005,232,00014,034,103,0005,163,681,000813,783,000
Cash on Hand675,970,000793,380,000199,367,00081,379,0003,486,000
Interest Bearing Debt----569,000
Net Current Assets1,240,101,0001,092,927,000270,926,00078,417,0003,809,000

The Public Accountants and Auditors Board (PAAB) issued a pronouncement on 11 October 2019 indicating that the economy had become hyper-inflationary, and recommended the adoption of International Accounting Standard (IAS 29) “Financial Reporting in Hyperinflationary Economies”. The financial statements from FY 2019 onwards were prepared using the hyperinflationary accounting basis to achieve fair presentation at the reporting date. The FY 2018 figures were also restated to apply the IAS 29 accounting standard. Financial figures in the table above prior to FY 2018 are based on historical cost reporting.

Corporate Governance

The Directors recognise the need to conduct the business of First Mutual Properties Limited with integrity and in accordance with generally accepted corporate practices in order to safeguard stakeholders’ interests. Detailed policies and procedures are in place covering the regulation and reporting of transactions in securities of the Company by Directors and Officers. The Group is committed to the principles of good corporate governance based on best global practice. The Board and Management believe that the Group’s governance systems and practices are appropriate and are essentially in line with the National Code on Corporate Governance. The Group Human Resources and Governance Committee takes a leadership role in shaping the corporate governance of the Group.

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Contact us

First Mutual Properties Limited (FMP.zw)
Address

First Floor, First Mutual Park
100 Borrowdale Road
P.O. Box MP37
Mount Pleasant, Harare

Phone
+263-242 886121-4, 0772134112-20
Email

Transfer secretary

Corpserve Registrars (Pvt) Ltd (zw)
Address

2nd Floor, ZB Centre
Cnr 1st and Kwame Nkrumah Avenue
P. O Box 2208
Harare, Zimbabwe

Phone
+263-242-758193, 750711/2
Website

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