Proplastics record 11% volumes growth

Proplastics recorded an 11% increase in sales volumes during the first quarter of 2025. In its first-quarter trading update, the company reported positive growth and sustained profitability.

Revenue for the quarter grew by 3% to USD 4.263 million (ZWG 114.078 million), up from USD 4.123 million (ZWG 110.331 million) recorded during the same period last year. There was no export contribution in the quarter, indicating a surge in local demand for the company’s products.Proplastics successfully cleared supply backlogs and replenished stocks for high-demand products during the quarter.

The company benefited from the relative economic stability experienced at the end of 2024 and into early 2025.

Despite the strong performance, Proplastics continues to face challenges accessing local currency, as most of its sales are in United States dollars and ZWG liquidity remains limited.

Additionally, the increase in foreign currency retention from 25% to 30% has negatively impacted the company’s export competitiveness.With the rainy season drawing to a close, the company anticipates increased demand for its products.Looking ahead, Proplastics expects the prices of raw materials to remain stable.

John Tanyanyiwa

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