The closing down of schools in Zimbabwe is now causing challenges in the business sector with the ballpoint pen producer, Eversharp recording a fall in volumes according to the Amalgamated Regional Trading (ART) Audited Financial Results for the year ended 30 September 2020.
Zimbabwe experienced a prolonged holiday with pupils and students not attending the Second Term of 2020 as the country took measures to contain the COVID-19 virus.
ART Chairman T U Wushe says “Eversharp pen volumes were 33% lower than prior year as schools remained closed during the period.”
“Production was resumed towards the end of the period in preparation for the re-opening of schools.”
Besides Eversharp, ART also recorded Papermill and Softex tissues volumes go down.
“The Paper mill production volumes improved marginally towards year end on the back of improved power and raw materials however demand remained weak and volumes fell by 37% compared to the same period last year,” Wushe says.
“Softex tissue volumes declined by 20% from prior year because of reduced disposable incomes and inconsistent supply of cheaper recycled bulk tissue.”
“The contribution of non-tissue lines increased to 18% of total sales as the product range was widened,” went on Wushe.
ART’s battery and timber business, however, witnessed volumes going up.
“The batteries business segment continued to drive the Group’s performance with battery volumes increasing by 17% for the year. Export volumes increased by 13% for the year as the division managed to grow its presence in the region,” Wushe says.
“Timber sales volumes for the year increased by 37% as a result of improved milling efficiencies and firm demand. Operations at the estates remained largely unaffected and there were no major fire incidents during the period.”
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