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CAFCA Bullish Of Final Stretch

ZSE-listed engineering firm, CAFCA expects local volumes to surge and equal previous year target in the fourth quarter despite a 27 percent slump in previous quarter against comparable period 2019.

The company which manufactures and supplies cable and allied products for the transmission and distribution of electrical energy and telecommunication endured a difficult three months to June 2020 due to the initial Covid-19 pandemic lockdown.

Electric cables sold fell to 393 tonnes in third quarter from 540 tonnes recorded comparable period last year.

“Despite local volumes being 27% below the same Quarter last year mainly due to the original Covid lockdown, we are still confident that by year end our volumes will be in line with the previous year,” the company said in a statement.

The company seeks to leverage on increased finished goods stocks which are now currently at 806 tonnes against a monthly sales model of 140 tonnes.

CAFCA has its primary market in Southern and Central Africa and an export footprint that extends to parts of Europe, including Russia, is set to close the year on a high note with exports already surpassing previous year.

“Exports for the 9 months to date are 207 tonnes versus the prior 9 month period of 143 tonnes being an increase of 45 percent,” the company said.

 

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