After posting a profit of US$312 264 on turnover of US$3,47 million in the 6 months to June, Zimplows turnover for July totalled US$,03 million and pretax profit is at US$235 000, CEO Zondi Kumwenda said
CT Bolts turnover had grown 19% on June while Tassburg was up 60%.
Mealie Brand implement volumes were down 44% year-on-year as last year was carried through by the Angola order which had been discontinued.
The group said it was currently ready for the seasons offtake but August was currently depressed. September is expected to pick up, and
In the 6 months to June, Zimplow posted net profit of US$312 464 or 0,1c per share. Turnover was US$3,47 million an increase of 72% on last year largely driven by domestic volumes which grew 111% at US$2,63 million.
Kumwenda said exports had grown only 10% as they were currently in recovery.
Local margins are at the same level as last year while average export levels are 18% down, he said. Kumwenda said the continued strengthening of the rand would continue put a squeeze on margins.
By division, Mealie Brand had brought in 70% of turnover, CT was on 22% but Kumwenda said the group expects to move it to 30%. Tassburg had only brought in 8%.
Of the profit, Mealie Brand was on 80%, CT was on 32% while Tassburg had a negative 12% after a loss of US$40 000.
CT bolts volumes of bolts and nails had grown 209% while the group had just had a thread rolling section commissioned.
On the balance sheet, total assets amounted to and current assets at US$8,34 million were largely made up of stock.Post published in: Manufacturing