Business / Companies
CAFCA expects a 15 percent jump in earnings
24 Feb 2012 at 06:51hrs | Views
At the 66th AGM of the Company held on Thursday 23 February 2012, all resolutions tabled were passed without amendments.
In a brief trading update for the four months to 31 January 2012, the Managing Director Mr. Robert Webster advised that turnover grew by approximately 5.5% y-o-y on improved sales mix as volumes remained static.
Profitability increased 15% y-o-y enhanced by improved efficiencies and the decline in the copper prices. The company expects to be debt free by end of March 2012, assuming the debtors pay up.
Cafca continued to invest in stock with approximately 200t of finished goods. Margins on the local market are healthy at approximately 35%.
There are opportunities for Cafca to enter into consignment stock arrangement with mining houses so as to limit the mining houses' imports. Although the demand for cables remains firm given the need for infrastructure rehabilitation, the current liquidity constraints negatively impact on trading.
In a brief trading update for the four months to 31 January 2012, the Managing Director Mr. Robert Webster advised that turnover grew by approximately 5.5% y-o-y on improved sales mix as volumes remained static.
Cafca continued to invest in stock with approximately 200t of finished goods. Margins on the local market are healthy at approximately 35%.
There are opportunities for Cafca to enter into consignment stock arrangement with mining houses so as to limit the mining houses' imports. Although the demand for cables remains firm given the need for infrastructure rehabilitation, the current liquidity constraints negatively impact on trading.
Source - Byo24News
