“Deliveries to certain markets have been delayed while the Zambian market was affected by the weakening Kwacha”. ZIMPLOW Holding’s turnover for the quarter to March 2015 rose by five percent while profitability is still subdued because of a downturn at Mealie Brand.
This is despite the company securing a number of good export contracts for both Barzem and Mealie Brand last year which are expected to turn the group’s operating loss position which increased to US$2,4 million for the year to December 2014 compared to US$361 042 in 2013 to profit.
Speaking at the company’s annual general meeting on Monday, group chief executive officer Zondi Kumwenda said trading conditions have remained subdued during the period under review, with exports still depressed.
“Deliveries to certain markets have been delayed while the Zambian market was affected by the weakening Kwacha. It is hoped that exports will recover in the second half of the year,” said Kumwenda.
“We will continue to focus on overheads rationalisation as well as grow exports to improve profitability. The group would also improve efficiencies in factories and workshop,” he said
He said CT Bolts volumes for the period under review have been encouraging with mild steel bolts […]