Turnall set to resume IBR roofing sheets productio...

Turnall set to resume IBR roofing sheets production

Zim Now Writer

Turnall Holdings Limited has announced intent to resume production of inverted box rib roofing sheets to improve product range and capitalise on market segment.

“The Group is also going to resume the production of Inverted Box Rib (IBR) roofing sheets which will commence in the fourth quarter of 2022. This will improve the Group’s product offering and see the company taking advantage of an additional segment of the market. The Group is also supplying some Government projects which are of national importance,” said Turnall Holdings in their Q3 trading update.

The Zimbabwe Stock Exchange listed entity said refurbishment of the Harare fibre cement plant currently underway should be complete by Q2 2023 when production is expected to resume.

Turnall reported positive turnover in spite of the reduced volumes which the group attributed to high value and low tonnage demand.

“Turnover in historical terms increased by 282 percent in historical terms and by 13 percent in inflation-adjusted terms in spite of a volume reduction of 34 percent,” said the group.

Turnall Holdings said rate distortions and low liquidity affected profit margins.

However, the group is expecting a positive outlook and gearing for it:

“A business decision was made to build adequate stocks in preparation for the peak period. The Group continued to engage suppliers for better terms and prices, pursued its cost containment initiatives and restructured the business in line with its strategy,” reads the statement.