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BUILDING materials supplier, PG Industries, is targeting $30 million sales volumes for 2016 after first quarter sales to March jumped 15 percent compared to same period last year on increased demand.
PG merchandising projects manager Mr Patrick Takayedza said there has been a surge in demand for building materials for residential property development, which has pushed sales.
The manufacturing sector is battling untold liquidity constraints and low consumer spending but PG remains upbeat on prospects for a boom in residential property development.
“The situation may be bad for others but we are one of those who benefit in such conditions.
“There are a lot of residential suburbs being developed and we are seeing opportunities to boost our business.
“Already, business has been good in the first quarter,” he said in an interview during the 57th edition of the Zimbabwe International Trade Fair (ZITF) in Bulawayo.
The company is currently operating at 75 percent and expects capacity to increase on anticipated recapitalisation from a potential investor.
“We are working on an investment opportunity coming in the next few weeks,” said Mr Takayedza without giving finer details of the deal as the company is on a closed period.
PG was suspended on the Zimbabwe Stock Exchange (ZSE) and is currently operating on a cautionary
Online Reporter