Zimbabwe Stock Exchange (ZSE) listed steel manufacturer, CAFCA has registered a 35% increase in export sales to 74 tonnes during the first quarter ended December 2021 from 55 tonnes sold in the corresponding period.
In a trading update, the company said that in addition to large order to Mozambique, it also registered its first sales from the consignment stock arrangement in Rwanda.
Finished goods stock levels of 671 tonnes against a budgeted monthly sales model of 225 tonnes were below the target due to foreign exchange constraints.
Tonnes sold during the quarter were 634 from 615, which translated to a 3% rise.
“We believe that the next 3 months’ volume will be higher than the current quarter’s volume.
“Accordingly, we are forecasting a six monthly volume increase over the previous year’s six monthly volume of around 10 %,” said the company.