Leading retailer of tyres and tubes in Zimbabwe, National Tyre Services(NTS) has improved in its tyres business in the October to December quarter due to demands from the agricultural sector.
Despite the challenges posed by the Covid-19 driven lockdown in the business environment, good rainfall during the season improved business for NTS as tyres were purchased more by the agricultural sector for the upkeep of their equipments.
In a statement, NTS company secretary, Stewart Mandimika said good rainfall resulted in high demand for Agricultural related tyres and attributes growth to the company’s marketing strategies.
“The volume of new tyres sold in Q3 2020-2021 increased by 213% compared to same period last year as the Company continues to implement robust marketing strategies to promote sales complemented by good stock availability,” he said.
The company however, experienced serious delays of stock movement across the border due to the Covid-19 induced lockdown.
“Movement of stock into Zimbabwe was further curtailed by cyclones that delayed berthing of ships at Beira with stocks from China and India. The market experienced noticeable stock outs particularly in December 2020.
The COVID-19 pandemic effects are expected to subside as infections continue to come down due to the rollout of vaccines. Key areas to watch, to ensure the continued viability of the business, will be cost control, an uninterrupted supply chain and avoidance of loss of capital against inflationary pressures,” Mandimika said.
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