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First quarter 2020 Trading Update

TRADING ENVIRONMENT

The quarter commenced with relative stability in the currency exchange rate which  remained flat in the first two months. This enabled a slowing down of price increases on most commodities. However, this did not last to the end of March as devaluation gained momentum. The USD/ZWL exchange rate closed the quarter at a fixed rate of ZWL25 from an opening exchange rate of ZWL16.77. The trading environment has therefore continued to present challenges attributed to hyper-inflation, policy uncertainty and exogenous shocks such as the drought impacting the business.

Additionally, the COVID-19 pandemic ushered in a further slowing down of economic activity across industry and commerce globally as measures to manage the pandemic were implemented. The International Monetary Fund has since revised the GDP forecast for Zimbabwe for 2020 downwards to 0.8% from an initial forecast of 2.7%. A marked improvement in electricity supply prevailed in the last month of the quarter, relatively easing out a number of efficiency issues obtaining in operations. In sales, the high cost of living affected the largest segment of our business, the Individual Home Builders (IHB), and disposable incomes. This resulted in a marked reduction in spending on personal construction projects.

Download the complete report.

 

Lafarge Cement Zimbabwe Trading update Q1 2020 (pdf, 2.91 MB)

 

CONTACT US

Find our contact details for the head offices in Harare,Zimbabwe below:

Lafarge Cement Zimbabwe (Limited)

Manresa Works, Arcturus Road

P.O. Box GD160

Greendale

Switchboard: 086 77 215 000/ 086 88 005 000

Sales Direct Line: 086 77 215 215/ 086 88 005 215

Whatsapp: +263 787 125 147

 

 

 

NOTICE TO SHAREHOLDERS 

 

Lafarge Cement Zimbabwe Limited wishes to advise its stakeholders that a further extension of the publication date of the audited financial statements for the year ended 31 December 2019 will be by no later than the 29th May 2020. 

 

The further extension of the publication date is in light of financial reporting delays during the COVID19 national lockdown period.

 

The Board and Management sincerely apologises for any inconveniences caused due to the extension in publishing the 2019 financial statements. 

 

By Order of the Board

 

 

F. Chinhaire

Company Secretary

30 April 2020

 
 

Lafarge Cement Zimbabwe Annual Reports

Find out all the key figures on our business, corporate governance and finance, as well as Lafarge Cement Zimbabwe sustainable development drive in these publications

  • Lafarge Cement Zimbabwe 2018 Annual Report.pdf (pdf, 11.69 MB)
  • 2017 Annual Report (pdf, 2.58 MB)
  • 2016 Annual Report (pdf, 19.09 MB)
  • 2015 Annual Report Part 1 (pdf, 13.5 MB)
  • 2015 Annual Report Part 2 (pdf, 5.69 MB)
  • 2014 Full Year Financial Results (pdf, 59.63 KB)
  • 2013 Full Year Financial Results (pdf, 5.04 MB)
 

Our Brands and Product range

The construction sector continues to grow spurred by population growth, urbanisation, higher living standards and the increased demand for sustainable construction solutions. Lafarge Cement Zimbabwe products are produced to meet these dynamic needs of the diverse range of customers, offering the most extensive line of building materials on the market. Our broad products range is suitable for industrial players, Individual Home Builders, concrete product manufacturers and any other cement users. Our long-standing local and international experience has gained us the expertise to produce and supply quality cement and other building materials. Our service does not end when the product is sold but extends to technical support, order and delivery logistics, documentation, demonstrations, and training. We are the preferred building partners for Zimbabwe!

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