eBusiness Weekly
Kudakwashe Mhundwa and Michael Tome
HARARE – Listed brick-making concern, Willdal says it is 40 percent ahead of production targets for the third quarter of 2019 despite the challenging macro- economic environment that is being experienced countrywide.
In an interview with BH24, Willdale chief executive officer Nyasha Matonda said the brick-maker was very excited with its ability to meet production targets despite depressed sales.
“We are actually in our third quarter (Q3) of trading our year usually starts around September, Q3 has started very well our production is up and targets are being met in terms of production and we are very excited with that. Sale are a bit depressed if you remember When we did our annual General Meeting we reported that we are a bit behind in terms of our sales but we regaining those lost volumes.
“As we speak we have reduced the deficit from about 24 percent to about 12 percent compared to last year, we are still behind but we foresee that it will improve seeing what we have in our order book, there are a number of projects that are coming up items of volumes.
“In terms of production we are ok, production is way above last year`s performance I think in the region of 38 to 40 percent so we are ok in terms of production its only sales were we are battling a bit,” said Mr Matonda
Earlier this year Willdale Limited highlighted that it was looking forward to increased capacity and sales on the back of strategies that were implemented by the firm during the period.
Willdale is optimistic of better business prospects in the future considering the amount of household and Government infrastructure construction projects taking place in the country.
The company maintains that capacity is available to meet demand but its exploitation is dependent on the availability of fuel and foreign currency for plant.
