CAFCA : Q3 2023 Trading Update

	QUARTELY TRADING UPDATE
	Q3 2022/2023	Q3 2021/2022
	Apr 2023 to Jun 2023	Apr 2022 to Jun 2022
Conductor tonnes sold	659	680
	Year to date 2022/2023	Year to date 2021/2022
	Oct 2022 to June 2023	Oct 2021 to June 2022
Conductor tonnes sold	1799	1879

Export volumes were 106 tonnes in the current quarter versus the same quarter last year of 91 tonnes. Our customers in Malawi continue to experience difficulty in obtaining foreign currency so stock replacement there is slow. Mozambique, Rwanda and Tanzania sales were in line with forecast.

Local volumes for the quarter were 6% down on the same quarter last year with the largest drop being in the Utilities sector but a marked drop in all the other sectors towards the end of the quarter due to the tight ZWL$ monetary policy.

		Historical Cost
	Apr 2023 to Jun 2023	Apr 2022 to Jun 2022
Turnover ZWL$	37.4 billion	3.3 billion
Profit before taxation ZWL$	18.1 billion	1.1 billion
	Oct 2022 to June 2023	Oct 2021 to June 2022
Turnover ZWL$	53.1 billion	6.2 billion
Profit before taxation ZWL$	24.7 billion	1.9 billion

The last quarter of the financial year outlook is mixed with the tight monetary policy impacting negatively on volumes whilst the large project orders we have in the mining sector improving volumes to ensure we have a good quarter.

We have seen, with the ZWL$ tightly controlled in the market,a shift in our US$ sales to 85% of turnover thus ensuring adequate foreign currency for our import needs.

By order of the Board

1. Kangara Company Secretary

Directors: H.P. Mkushi (Chairman) R.N. Webster (Managing Director) E.T.Z. Chidzonga T. Chigumbu A. Mabena S. Mangwengwende S. Maparura G.J.H. Steyn