- Turnall Holdings reported an 18% decline in production for Q1 2025, producing 7,357 tonnes
- Sales volumes fell to 5,464 tonnes, a 31% decrease from 7,926 tonnes in the previous year
- The drop in sales was largely due to low economic activity and prevailing liquidity issues in the market
Harare-Turnall Holdings, a Zimbabwe-based manufacturer of fibre cement roofing products, pipes, and concrete tiles has reported a 18% decline in production for the first quarter of 2025, producing 7,357 tonnes compared to 8,972 tonnes during the same period last year according to the company’s latest trading update.
This decline was primarily driven by weakened sales demand, prompting the company to adjust its production levels accordingly.
Sales volumes for the quarter fell to 5,464 tonnes, marking a 31% decrease from 7,926 tonnes in the previous year.
The drop in sales was largely attributed to low economic activity and prevailing liquidity challenges in the market.
Changes in the sales mix also contributed to the volume decrease, with a higher proportion of lower tonnage fibre-cement products being sold.
As a result ,the sales revenue for the quarter declined by 11% to US$2.3 million from US$2.6 million.
The business was unable to generate positive cash flow from operating activities due to the losses incurred during this period.
In response to these challenges, Turnall is resizing its operations to reduce costs and improve profitability and cash generation.
The company invested US$2.2 million in various activities, primarily on components and civil works for a new sheeting plant to be located in Harare.
Looking ahead, civil works and the installation of the new sheeting plant in Harare are now at an advanced stage. This facility is expected to boost production output, enhance production efficiency, and result in significant cost savings, particularly in transportation costs.
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