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Saturday, December 3, 2022
HomeBusinessTurnall Sales Improves In Third Quarter

Turnall Sales Improves In Third Quarter

Turnall Holdings Limited has reported a significant surge in sales volume since lockdown measures meant to curb the spread of Covid-19 were relaxed.

Zimbabwe went into one of the region’s tightest lockdowns end of March which brought economic activity to a halt but only started the gradual relaxation of measures around July.

In its third quarter trading update, sales were 11 percent above comparable period last year and 81 percent above the previous Covid-19 impacted quarter.

“Following the easing of Covid -19 restrictions in the third quarter, the Group experienced increased demand for its products,” said board chairman, Bothwell Nyajeka,

Cumulative sales volumes for the nine months were 3 percent above the comparable period last year.

Production volumes for the period were 31 percent above the comparable period last year but cumulative production volumes fell three percent below the volumes for the comparable period previous year.

However owing to restrictions at the country’s borders and the general delay in commencement of international trade post-lockdown, exports suffered immensely.

“The Group’s exports were 3% of sales volumes for the period with exports negatively affected by the Covid-19 pandemic and resultant transit restrictions,” said Nyajeka.

The Group remains optimistic of the outlook, with higher seasonal demand in the fourth quarter expected to consolidate the growth in sales as customers roof their properties before the onset of the rains.

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