Online Reporter
Nelson Gahadza
Zimpapers Business Hub
Zimbabwe Stock Exchange (ZSE) – listed tyre retailer and re-treader, National Tyre Services (NTS), says it continues to maintain a strong presence within government institutions and corporates and anticipates increased tyre demand.
NTS is the largest distributor and retailer of new tyres and tubes for the automotive industry in Zimbabwe.
According to its financials for the year ended March 31, 2025, the company said its tyre services were supported by the availability of preferred tyre brands and long-standing trading relationships that reinforced customer trust and sustained business continuity.
“We anticipate increased tyre demand, driven by the ongoing government infrastructure projects, including road rehabilitation works, particularly in the commercial and transport sectors.
“The proposed measures to curb the smuggling of goods, including tyres, will also promote fair competition and support formal businesses,” said chairman Mr Rutenhuro Moyo in a statement on the financials.
He said NTS is upbeat and positive that the new supply chain strategy of importing affordable and meticulously engineered tyre brands is robust enough to achieve seamless stock supply and competitiveness.
“We have already witnessed growing customer preferences for our newly launched tyre brands, and we anticipate improved performance in the second half of the 2025 financial year,” said Mr Moyo.
During the period under review, the company’s retreading business, despite the challenges posed by the influx of cheap, smuggled tyres, demonstrated resilience, with both the Harare and Bulawayo factories maintaining sustainable production levels throughout the year.
In terms of financial performance, sales for the year under review declined by 25 percent to ZiG143,358 million compared to ZiG191,734 million in 2024, resulting in a gross profit decline of 41 percent to ZiG45,969 million compared to ZiG77,761 million in the prior year.
The company incurred a loss before tax and monetary loss of ZiG54,574 million from a loss of ZiG29 million in the previous year.
Looking ahead, Mr Moyo said the company remains optimistic that stability in currency and the foreign exchange rate will prevail.
“The local currency has shown notable stability since its inception in April 2024, bringing improved pricing clarity and predictability to our business operations.
“We also hope for a stable power supply from Kariba to reduce operating costs,” he said.
He also highlighted that the company is leveraging its rich experience and technical expertise to enhance customer service offerings, retain market share and strengthen its branch network.
