Turnall says volumes up 70 percent in five months


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Turnall Holdings sales volumes for the five months to May 2018 at 16 578 tonnes is 71 percent above the previous year, largely driven by improved product availability which was supported by a constant supply of raw materials.

Managing director Rosemary Chisveto told the shareholders at the annual general meeting that the company started making operating profit in the second half of 2018.

“The group expects the second half to record better performances compared to the first half, which will result in a profit position in the first half and at year end,” she said.

Turnover for the period was 79 percent above previous year while production output at 20 108 tonnes was 107 percent above prior year.

Chisveto said the first half period is traditionally characterised by low business and losses, with the peak period being in the second half.

“However, the current period has recorded a better than anticipated trading performance due to constant supply of raw materials that resulted in better product availability,” she said.

She said the company steadily increased stocks of raw materials and when demand surged and was able to meet market demand.

The company will also ride on various government low cost housing projects while pursuing strategic partnerships.

(92 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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