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Zimplow looks to exports for recovery
04/10/2014 00:00:00
by The Source
 
We are seeing uptake on the local market improving ... Zondi Kumwenda
 
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ZSE-listed Zimplow confirms negotiations

ZIMPLOW expects to overturn its half-year loss of $1.7 million and return to profitability in the second half, driven by the group’s agricultural input manufacturing and distribution arm, the chief executive said on Friday.

“Throughout the year we have seen improved month on month exports and as land preparations start we are seeing uptake on the local market improving,” Zondi Kumwenda told The Source.

Mealie Brand, its key agriculture unit which produces animal drawn farming implements with market through-out sub-Saharan Africa, would help increase the company’s revenue base, he added.

“Overally, we are counting on the Mealie Brand unit to drive us forward,” he said.

During the first quarter of 2014 the group’s key agricultural divisions recorded positive growth while the mining, construction and bolts and nuts business units experienced a downturn.

Meanwhile, the group’s mechanical agriculture unit, Farmec has introduced a new line of Brazilian tractors called Valtra.

Apart from agriculture, Zimplow has interests in mining and construction.


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