RYAN CHIGOCHE
Listed rubbers and chemicals manufacturer General Beltings Holding is anticipating strong recovery in the fourth quarter driven by a firm order book.
In the third quarter to September 30,2022, the rubber division’s performance dipped 3% owing to delays in raw materials supplies in the middle of the quarter.
Company secretary Patrick Munyanyi said the company has already secured raw material to support the firm order book.
“A significant recovery is expected in the fourth quarter underpinned by a strong order book at the rubber division and consistent demand at the Chemicals Division. The company has secured sufficient raw materials to convert the orders with some expected to spill into the next financial year,” Munyanyi said.
Total volumes for the third quarter to September were 690 metric tonnes, 7% higher than 644 metric tonnes posted in the prior comparable period.
The increase was a result of market recovery efforts in the chemical business, where volumes were 14% higher than the same period last year.
As a result, turnover at US$ 3.5 m grew by 9% from the prior year’s US$ 3.2m.
As a going concern the company is generally optimistic of a profitable fourth quarter.
