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Business Writer
Roofing material manufacturer, Turnall Holdings, is expecting better prospects in the current second quarter of the year after the first quarter to March was hit by the Covid-19 induced lockdown.
In a trading update, chairman Bothwell Nyajeka said first quarter performance for Turnall was largely mixed following lockdown measures introduced in the country to curb the spread of the second of the Covid-19 pandemic.
Nyajeka said exports also slowed, largely as a result of regional lockdowns and consequent logistics disruptions. The local lockdown period, which lasted for almost two months, disrupted Turnall’s supply
chain, route to market access and trading hours.
As a result, Group sales volumes marginally increased by 1 percent over the same period last year.
Sales volumes for building products, which contributed 51 percent of the volumes, declined by 21 percent compared to last year same period.
However, sales volumes for concrete products which contributes 48 percent on total volumes
increased by 43 percent for the period under review.
The Group is however expecting better performance in the second quarter and beyond anchored on a continued volume growth trajectory and cost containment.
The Group is also planning on improving production efficiencies as well as implement an aggressive sales strategy leveraging on a remodelled route to market.
On the export front, the Group is focusing on satisfying local demand and will resume exports once the situation improves in the regional market.
Online Reporter