*Turnall pins hopes on capital projects* https://thevoiceonlinenews.com/ga39 ___________________________________ `June 17, 2025` ___________________________________ > *Follow The Voice Online News WhatsApp channel:* https://whatsapp.com/channel/0029VaPRQqTHrDZdGRK5yH43 ___________________________________ > *Share The Voice Online News WhatsApp group link:* https://chat.whatsapp.com/DjU5F7Goh3M6M4XSkg81Gx ___________________________________ > *To advertise with The Voice Online News, talk to us here:* https://wa.me/message/PLR6ANGW2RX4I1 ___________________________________ LISTED fibre cement manufacturer Turnall Holdings Limited has seen recovery potential in the country’s booming capital projects, coupled with improved agricultural output. Presenting the group’s annual report for the year 2024, Turnall’s board chairman, Grenville Hampshire, said the current year presents prospects of recovery. “There is hope for some recovery in 2025 due to the ongoing capital projects in the manufacturing and construction sectors, coupled with an expected rebound in the agricultural sector on the back of the La Nina weather phenomenon. “This recovery is expected to have downstream benefits for the other sectors in the economy. In addition, a stable exchange rate, low inflation, as well as favourable international commodity prices for key minerals are expected to provide a conducive environment for doing business,” he said. During the just-ended financial year, the group’s turnover for the year ended 31 December 2024 was US$12.04 million compared to US$12.56 million in the previous year, representing a 4% decline, which was mainly due to liquidity constraints and the adverse effects of the El-Nino induced drought, which suppressed product demand. The company recorded sales volumes of 32,086 tons, representing a 14% decline compared to the prior year. The decline in volumes was largely due to low product demand and stiff competition from substitute roofing materials and other players in the market. The low demand was caused by the El Niño-induced drought, which affected farmers and other agricultural downstream industries; these farmers form a significant part. The revenue for the year was US$12.04 million, which was a 4% decrease compared to US$12.56 million achieved in the prior year. The sales product mix for the period was skewed towards the high-value and low tonnage building product. “Despite a challenging business environment, the board and management remain optimistic that the Group will revert to profitability in the medium term. Current efforts to retool the factories will go a long way in addressing production efficiencies and improving our product offering, which is expected to result in revenue growth. These efforts, coupled with the current cost containment initiatives, will bring material improvements to the performance of the group,” added Hampshire. – _*NewZimbabwe*_