Turnall expects return to profit in 2025 after tough year
Turnall Holdings expects to achieve operational profitability during 2025 after reporting a $3.2 million operating deficit last year. Chairman Grenville Hampshire outlined the recovery strategy in a recent business update, citing revenue expansion, manufacturing improvements, and careful expense management as primary drivers. A modern fiber cement production facility nearing completion in Harare should begin operations before the year’s end, enhancing product availability.
Management also finalized evaluations for converting their Bulawayo manufacturing site to produce asbestos-free sheeting. Initial test batches may soon enter neighboring markets. Third quarter sales totaled $3.3 million, slightly below prior year results, though product deliveries rose seven percent to 9,150 tons. Officials explained that this difference resulted from shifting toward higher-volume, lower-priced items. Total sales for the first nine months reached $8.3 million, representing a six percent annual decline, while shipment tonnage decreased by eleven percent compared with the same period in 2024.
