Amalgamated Regional Trading’s brand Eversharp has maintained its strong performance in spite of the proliferation of imitation pens in the region after recording an operating profit of $0.81 million compared to $0.92 million achieved in the prior year.
According to the group chairman Thomas Wushe, the company’s battery business segment continued to drive the Group’s performance recording revenues of $32 million, a 42% increase from prior year.
“The Battery business segment continued to drive the Group’s performance recording revenues of $32 million, a 42% increase from prior year. Volumes increased by 29% on the back of improved product availability following additional investment in factory bottleneck areas.
“The Exide Express network was expanded and supported by increased promotional activities that included the re branding of the Mutare and Motor City Harare branches.
“The increased volumes in batteries and paper as well as the widening of the product range to include books and low maintenance batteries necessitated additional contract labour,” he said.
Wushe added that strong timber demand drove the revenues of the Mutare business with turnover increasing by 55%.
“The Paper division achieved an operating profit of $0.73m compared to $0.12m in the prior period as a result of improved efficiencies and volumes at the Kadoma Mill.
“Revenue was driven by a 7% volume increase to $6,5m. Eversharp maintained its strong performance in spite of the proliferation of imitation pens in the region. An operating profit of $0.81m was achieved compared to $0.92m in the prior year.
“Softex recorded an operating profit of $0.61m on the back of strong tissue demand compared to $0.34m in 2017.
Revenues at $9,8m increased by 37%, however, hygiene and femcare products were affected by intermittent raw material supplies.
“Strong timber demand drove the revenues of the Mutare business with turnover increasing by 55% to $2m. The business continued with sustainability measures initiated in the prior period that focus on resource preservation and value addition,” he added.
