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CAFCA - trading update
In the first quarter ended 31 December 2024, we have witnessed industry and commerce adjusting to various changes, including the September 2024 currency devaluation, reduced expansionary spending on road infrastructure, increased power disruptions, and a rise in informal retail.
Operational Update
Despite the shifting trading environment, CAFCA's volumes for the first quarter ended 31 December 2024 grew by 23%, supported by a 74% growth in aluminium volumes compared to the prior comparative period. The copper-based business grew by 13% compared to the prior comparative period.
In terms of delivery, production was affected by power disruptions and surges, causing equipment breakdowns. CAFCA, however, managed to meet customer production requirements. The company continued to engage distributors to maintain high product availability on the shop floor.
Financial Update
Revenue for the quarter ended 31 December 2024 grew by 29% compared to the prior comparative period due to volume growth. Trading margins remained under pressure due to increased industry competition.
Outlook
The operating environment in Zimbabwe continues to pose challenges, influenced by policy changes, currency instability and power supply challenges. Whilst it is expected that the Government will take measures to address these gaps, CAFCA is working to improve its operational capabilities to constantly compete and meet our customers' needs. To that end, CAFCA will focus on operational effectiveness to protect margins and drive
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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