Turnall Holdings Limited is banking on the imminent commissioning of its new fibre cement sheeting plant in Harare to drive a return to profitability this year, following a US$3.2m operating loss last year. The building materials manufacturer says the investment, alongside improving economic fundamentals and stronger cost discipline, will underpin a solid recovery and enhance its competitive edge.
Board chairperson Grenville Hampshire said Turnall was confident of breaking even at operating profit level next year, buoyed by higher revenues, better production efficiency, and tighter financial control.
“The installation of the state-of-the-art fibre cement sheeting plant in Harare is now almost complete, and the plant is expected to be commissioned in the fourth quarter of 2025. This will result in an improved product offering for our valued customers, amongst other benefits,” Hampshire said.
He revealed that the feasibility study for converting the Bulawayo plant to produce non-asbestos sheeting had been completed, with plans to produce trial products for testing in regional markets.
During the third quarter of 2025, Turnall posted US$3.3m in turnover, a marginal 1% decline from the same period last year. However, sales volumes rose 7% to 9,150 tonnes, supported by steady market demand. The modest revenue decline despite higher volumes was attributed to a sales mix shift towards lower-value, high-tonnage products.
“Year-to-date sales were US$8.3m, representing a 6% drop compared to the same period last year, whilst sales volumes, at 27,348 tonnes, were 11% below prior year,” Hampshire said.
Despite frequent power disruptions, Turnall produced 10,782 tonnes in the quarter, an 11% increase from 2024, enough to meet customer demand.
The company also undertook a planned 12-day shutdown at its tile plant in August to facilitate electrical installations tied to the new Harare facility.
Gross profit for the quarter climbed to 28%, up from 20% in 2024, driven by improved efficiencies and rigorous cost containment.
For the nine months to September 2025, the group’s overall gross margin strengthened to 26%, from 19% a year earlier, a clear reflection of Turnall’s sharpened operational focus and renewed drive toward profitability.
