- TSL Limited recorded 30% growth for the nine months ended 31 July 2025
- The 2025 tobacco season generated US$1.2 billion from 352.7 million kilograms sold, driving 91% growth in tobacco paper volumes and a 62% increase in hessian hire at Propak
- End-to-end logistics showed strong growth, with forklift hours up 9% and green tobacco bales satellite handling volumes up 96%, as TSL plans to implement a multi-modal solution to further enhance container and rail cargo movement
Harare - TSL Limited has recorded 30% growth for the third quarter ended 31 July 2025 driven by improved performance in the agricultural sector, notably tobacco according to the latest trading update.
The operating environment for the quarter remained relatively stable, underpinned by tighter monetary policy and controlled money supply growth. Since January the Zimbabwe gold backed currency has been relatively stable trading circa 26 against the greenback.
Agricultural operations, particularly tobacco-related trading through Agricura, were a major contributor to revenue growth.
The company reported strong volume growth across most categories, with fungicides leading the charge with a 675% increase over the same quarter last year, largely attributed to heightened demand for tobacco seedbed packs., while insecticides and dips also recording substantial gains, growing by 34% and 85% respectively during the quarter. Herbicide volumes rose by 56% for the quarter but declined 22% over nine months due to delayed rainfall affecting the 2024/2025 season.
With high tobacco output, TSL’s packaging division, Propak, mirrored the positive trend, with hessian hire volumes up 62% for the quarter , driven by the larger national tobacco crop and onboarding of new customers.
Tobacco paper volumes soared by 91% during the quarter benefiting from a record tobacco season which generated US$1.2 billion from 352.7 million kilograms sold, although the average price of US$3.32 per kilogram was slightly below the prior year’s US$3.43. The overall volume surge provided a significant boost to TSL’s agricultural trading revenue.
Meanwhile, the Tobacco Sales Floor (TSF) handled 58.6 million kilograms of tobacco during the quarter, a remarkable 118% increase over the same period last year, with end-to-end logistics services also saw significant gains where forklift hours rose 9% for the quarter, an indicative of increased FMCG and agricultural throughput while green tobacco bales satellite handling volumes surged by 96% .
Looking forward, the company plans to complement rail cargo movement with a multi-modal solution, expected to enhance container volumes in the near term.
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