By ETimes
HARARE – Turnall Holdings said it remains confident of returning to profitability this year, buoyed by improved efficiencies and tighter cost controls.
“The group is very optimistic that the business will be able to break even at operating profit level in 2025, following a massive loss from operating activities amounting to US$3.2 million reported in 2024.
“This will be achieved through revenue growth, increased production efficiencies and continued cost containment initiatives,” Turnall said in a trading update for the third quarter ended 30 September 2025.
Turnall said installation of its new fibre-cement sheeting plant in Harare was “now almost complete” with commissioning scheduled for the fourth quarter of 2025.
The facility is expected to enhance product offerings and bolster competitiveness.
The group also said it had completed a feasibility study to convert its Bulawayo plant to non-asbestos sheeting production and plans to produce trial products for regional market testing.
As for financials, the group achieved a modest profit after tax of US$92 091 in the quarter, reversing prior losses and indicating that its cost-cutting and operational restructuring are beginning to yield results.
Gross margins improved significantly to 28% from 20% a year earlier, a strong indicator that efficiency gains are translating into tangible profitability improvements.
In the third quarter of 2025, turnover came in at US$3.3 million, which was 1% lower than the previous year’s figure.
For the nine months ended September 30, 2025, the company generated US$809 101 in operating cash flow before working capital changes, a significant improvement from the net cash outflow of US$882 423 in the prior year.
This shift was driven by a management initiative to self-fund operations and reduce dependency on borrowing.
Turnall’s share price closed flat at ZiG0.1200 in trading on the Zimbabwe Stock Exchange.
Discover more from Etimes
Subscribe to get the latest posts sent to your email.