Turnall Holdings Limited successfully commissioned its new fibre-cement sheeting plant in Harare, marking a significant milestone in its strategy to enhance production capacity, improve efficiency, and enrich its product offering. The plant’s commercial operations began towards the end of Q1 2026, with its full impact expected in subsequent quarters.
The company acknowledged that the operating environment during Q1 2026 was generally positive, with stable foreign currency exchange rates and inflation levels, supported by tight monetary policy initiatives. The year-on-year USD inflation rate remained in single digits, reaching 1.3% in March 2026. Foreign currency inflows improved, driven by mineral and agricultural exports.
Despite liquidity challenges and high borrowing costs, Turnall reported a 19% revenue growth to USD [insert revenue figure, not provided], driven by strong demand for fascia boards and concrete tiles. Sales volumes increased 39% to 7,592 tonnes, with production volumes up 14% year-on-year.
The group generated net cash flows from operating activities of USD 346,321, driven by positive working capital movements.
Strategic initiatives include investing in a Solar Energy Plant to reduce electricity costs and upgrading the Bulawayo sheeting plant for regional export sales. Management expects improved performance as the new plant stabilizes and market development initiatives yield results.
Focus areas include improving operational efficiencies, strengthening working capital management, and growing revenues with an improved product offering. The group continues to evaluate investment opportunities to mitigate risk and capitalize on market opportunities.
