Solid performance by M&R

Shakeman Mugari

MURRAY & Roberts (Zimbabwe) Ltd (M&R) chief executive officer Michael Einhorn says the company expects firm earnings in the next reporting season buoyed by a stro

ng quarter in exports and domestic business. In an interview Einhorn said the first quarter had seen a firm and steady trade in exports while local business had remained on course for real growth during the same period.

“All divisions have achieved real growth during the first quarter. There has been a steady rise in exports, which is sustainable. Caridorn Abrasives and Pro-Plastics have been performing equally well in the last period,” said Einhorn.

On the construction division, the chief executive said 50% of the current budget had been secured through contracts while major projects in progress and tenders were filtering into the company’s book.

“The order book is satisfactory and there are major projects that the company is working on,” he said.

“We have picked some projects on the mines and banks.”

The division has however been affected by higher staff turnover with the bulk of skilled personnel crossing into Botswana where there is a property boom.

The agro-processing division also traded in line with budget and management expectations.

The EPZ company, Bonnezim, which produces canned green beans, is currently utilising six months of the factory capacity.

The factory based in Chegutu is also working on new products that would enhance export earnings for the group.

The impact is expected in the next reporting season.

Einhorn said another export division, Zimbabwe Tomato Drying Company (Zimtom) had since secured about 65% of the orders from the United Kingdom and Australia.

The division has also clinched contracts with European supermarkets.

Commenting on the first months of the second quarter the chief executive said the whole group had performed well in the October on the back of real growth in exports.