DIVERSIFIED agro-concern, Zimplow Holdings posted a resilient performance during third quarter to September despite headwinds in the economy which included inflation and lockdown restrictions, the Group said in its Q3 trading update.
Group revenue was up by 45 percent as profitability grew 61 percent in real terms compared to the prior year same period.
On a year-to-date basis, revenue and profitability were ahead of prior year by 62 percent and 61 percent in real terms, respectively.
Despite a recommendable performance, the Group had to weather inflation, which grew by 1 percent to 4.73 percent (month-on-month) in September compared to June 2021.
At Farmec, tractor and implements sales volumes grew by 86 percent and 56 percent respectively against same period last year.
Revenue for the nine months by 82% compared to same period last year.
At Mealie Brand, local and export implements sales volumes for the nine months were 37 percent and 30 percent ahead of prior year respectively.
Barzem delivered a 42 percent growth in volumes of earth moving equipment for the nine-month period under review. Workshop efficiencies improved by 50 percent compared to same period last year.
The road rehabilitation program has been a major driver of the uptake of earth moving equipment during the period under review.
“The unit looks forward to sustain the performance so far by following through on its strategy to improve response times, technician utilization through upskilling and tooling, financial risk management and a collaborative parts procurement system,” said the Group.
CTBolts continue to deliver volumes growth with a 56 percent jump in tonnage of fasteners sold for the nine months compared to prior year.
“Management is pleased with Scanlink’s Q3 performance as it delivered on the business model expectations. Profitability grew 4 folds driven by a strong performance in aftersales. Parts and hours sold grew by 121% and 12% respectively against prior year. Truck and buses volumes were however affected by supply chain gaps resulting in Q3 volumes dropping by 31% against prior year,” said the Group.
Trentyre’s Q3 performance has been driven by a 14 percent growth in volumes with new tyres increasing by 23 percent and ancillary services growing by 12 percent against prior year’s third quarter.
“The unit is seized with resetting the business model towards the strength of the Good Year brand and unlocking the supply chain gaps as well as retreading factory efficiencies,” said the Group.
