Jennifer Mufamba Business Reporter, Turnall Holdings, a roofing and construction product manufacturer listed on the Zimbabwe Stock Exchange (ZSE), announced that it has increased its revenue for the third quarter ending September 30, 2021, driven by continuous project participation and improvement measures. 40%.

Turnall Holdings said that sales increased by 13% compared to the same period last year.

Acting company secretary Zvidzayi Bikwa stated in the transaction update, “Fiber cement construction products contributed 79% of sales in 2021, an increase of 7% compared to the same period last year, while fiber cement pipes contributed 2%. Sales volume during the same period on the date. "

He also said that concrete roof tiles accounted for 19% of total sales, an increase of 6% compared to the same period last year.

Turnall's exports increased by 3% due to regional lockdowns, subsequent logistics interruptions, and increased demand in the local market that exceeded production capacity.

The company's production tonnage is 12% after inflation adjustment, and the pre-tax profit for the reporting period is 72% higher than the same period last year.

Mr. Bikwa also pointed out that the company continues to expand its footprint to the SADC region.

The company said this will be achieved through sales growth, cost control and further adjustments to the process.

"Sales growth, competitive pricing, operating cost control and working capital management remain the key areas of focus for our management team.

"The company has established the necessary procurement structure to ensure the continuous supply of key raw materials, which should translate into uninterrupted production in the last quarter of this year," Mr. Bikwa said.

"The innovation of products and services aims to continuously improve business convenience and customer satisfaction through a rich roofing product portfolio (such as slate, eco-tiles and short tiles), which is a top priority.

Bikwa said: "The company is investing in a new model factory to improve product changes and automate production processes."

Turnall stated that the migration from fiber cement pipe to glass fiber reinforced pipe (GRP) manufacturing is at an advanced stage.

However, the group also pointed out that because the inflation environment is expected to continue into the last quarter of this year, profit margins and cash flow will be affected. 2022 Turnall Holdings is engaged in the production of construction and construction materials, including corrugated board, flat plates, tiles, pressure pipes, and sewers. , Concrete roof tiles and related accessories.

The company operates through multiple divisions including construction products, pipe products and concrete tiles, and has market shares in South Africa, Mozambique, Zambia and Malawi.

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