Chronicle Editor
Business Reporter
NATIONAL Tyre Services has posted a positive volume performance in the quarter ended June 30 on the back of stock availability and survival strategies adopted during the Covid-19 pandemic operating environment.
In a trading update for the period under review, NTS said despite the challenges induced by Covid-19, there were notable improvements in the economy, which included good grain harvests and a drop in the consumer price index, for the fifth straight month to 106,6 percent in June.
“These positive developments spurred demand for tyres. Q1 2021-22 new tyre volumes increased significantly by 162 percent when compared to the same period last year, driven by stock availability and focused marketing initiatives,” it said.
Overall unit performance grew by 163 percent during the period under review as the company employed survival strategies under this coronavirus operating environment.
“Q1 2021-22 retreading volumes grew by 75 percent compared to the same period last year due to increasing demand from retreading customers.
“Trucking operations improved during the period under review when compared to the same period last year as the Government imposed less restrictive measures to allow trucks to operate,” said NTS.
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