tawandamusarurwa
Online Reporter
LISTED brickmaker Willdale Limited says exchange rate stability during the latter part of 2022 could indicate “a better operating environment” in the coming year.
The first half of the year was largely characterised by high inflation and volatile exchange rates.
In a statement accompanying the company’s full-year results to September 30, 2022, Willdale chairperson Mr Cleophas Makoni said: “The stability in the exchange rate and inflation brought about by the monetary policy measures introduced towards the end of the financial year, if sustained, gives us the confidence of a better operating environment for the ensuing year.”
A stable supply of electricity, coupled with a good operating environment, he added, would be critical for an efficient operating environment.
In the year under review, Willdale’s performance was buoyed by increased demand owing to heightened activity in the construction sector.
As a result, revenues rose 9 percent to $5,1 billion during the period under review from $4,7 billion in 2021.
Bongani Ndlovu
Online Reporter