Turnall Managing Director, Mr Caleb Musodza, presenting the company's results at an analyst briefing

Management has put together a robust business turnaround plan which the Board is confident will deliver profitability for 2015 and beyond. The plan addresses procurement deficiencies, production efficiencies, business diversification, working capital management and cost containment. Significant improvements in margins are expected before the end of first half of the year mainly coming from procurement savings and improvements in production efficiencies.

The efforts that have been put in place by Management have begun to bear fruit. The company has recorded profits in the first two months of the year 2015 and this is in the context of a historical trend where the business has always recorded losses in the first quarter. The company’s order book remains strong and the factories have the capacity to fulfil the market requirements.

FY 2014 financial results

FY 2014 financial results presentation