adminIn a statement accompanying the company’s audited financial statement for the year ending 31 March, NTS said vehicles and mobile plant worth $1,4 billion were imported into the country last year.
“The growth of the national fleet and mobile plant as well as the growth in distribution and transportation sectors offers opportunities for growing revenues and market position.
“Management will work on the introduction of new products and services to cater for identified customer needs.”
The company, which faced reduced business a few years ago, forcing the closure of some branches and the Bulawayo factory, said business had picked up resulting in some of the closed branches being reopened.
The Bulawayo retreading factory was re-opened in February to relieve pressure on the Harare factory.
“Capacity utilisation at the Harare Truck Retreading factory increased in the current year.
“This resulted in the reopening of the Bulawayo factory in order to decongest the Harare factory and offer improved turnaround time to the Bulawayo market,” said the statement.
National Tyre Services posted an after-tax profit of $841 186 up from $616 159 while revenues went up 41 percent to $15,9 million.
The company attributed the increased revenues to a wider distribution network, brand awareness and product offerings, among others.
It said sales volumes for new tyres rose by 17 percent due to contribution by high value truck and off the road tyres.
Online Reporter