Breaking News

Astra plans to introduce new products in bid to regain lost market share

by Business reporter
31 January 2013 | 3203 Views
Astra is planning to introduce new products in the next 6 to 8 weeks in an effort to regain the company's lost market share, MD Mac Mazimbe told the AGM this afternoon.
 
"We are planning on spending more money in order to make the company more attractive. In the following 6 to 8 weeks you will see more effort coming from us.
 
The firm is working on introducing new products and revamping appearance of the company in order to make us more attractive to customers and regain lost market share," said Mazimbe.
 
He stated that the operations of the company since September 2012 to date were "not so rosy but under the circumstances" they have managed to hold on their own and hope to see improvements as far as trading is concerned in the second half of this year.
 
The challenges that adversely affected Astra as mentioned by Mazimbe include the absence of serious construction projects and liquidity challenges.
 
"Liquidity challenges have resulted in long outstanding debtors," he said.
 
Mazimbe said in the future Astra will deal with people whom they know are capable of paying their debts rather than just selling for the sake of selling.
 
He added that there has been continuous pressure from imports which are mainly from China and South Africa.
 
The MD also said the firm is looking at enhancing trade so that they benchmark themselves alongside international players rather than just benchmarking the firm locally.
 
Mazimbe mentioned that "exports are going to assist the firm going forward," as they explore and take advantage of opportunities that come in the mining sector.
 
"The other subsidiaries are performing better and we expect the sales to continue improving in the second half of the year especially in the paint division, which usually sells better after the rainy season," said Mazimbe.
 
Astra has also been facing a challenge of low demand of products due to low disposable incomes in the country and Mazimbe pointed out that turnover went down by 2% in the 4 months to December compared with the previous year.
 
He highlighted that Astra's sales volumes were down by 5% and the greatest negative impact was on production which dropped by 28%. Thus, the profit before tax during this period was "negatively affected as it went down by 34%."

Commenting on this performance, Mazimbe said the company will ensure more cost control in its daily endeavors.
 
Shareholders approved $70 800 directors' fees and $111 847 audit fees to Deloitte & Touché who were also retained for the ensuing year.


Astra

Source: zfn

Should Mujuru skip the border and fax her resignation?

Yes
15.69%
No
81.99%
Tough choice
2.32%
1166

Comments

News Updates

Email:

Latest News

ZPC Kariba dominates soccer star finalists - ZPC Kariba have dominated...

by Staff reporter | 22 November 2014 | 437 Views

Mujuru not on Zanu-PF Politburo Agenda - The Zanu-PF Politburo meetin...

by Staff reporter | 22 November 2014 | 1194 Views

Mujuru's only political option - THE allegations against the Vice Pres...

by Qhubani Moyo | 22 November 2014 | 2765 Views

Mugabe back from E. Guinea, met by Mujuru and Mutasa - President Robe...

by Staff reporter | 22 November 2014 | 2520 Views

Bulawayo doctor embroiled in another messy divorce - PROMINENT Bulawa...

by Staff Reporter | 22 November 2014 | 1940 Views

Mujuru's moment of truth has arrived - President Robert Mugabe will to...

by Staff reporter | 22 November 2014 | 2954 Views

Six die in kombi, truck accident - Six people died, four of them on th...

by Staff reporter | 22 November 2014 | 1156 Views

Grade 7 exams marking fiasco unearthed - A SHAMEFUL plot to discredit ...

by Ray Bande | 22 November 2014 | 1951 Views

Bogus war veteran exposed as a Rhodesian war veteran - ZANU-PF Manical...

by Cletus Mushanawani | 22 November 2014 | 1888 Views

Woman successfully sue Mohadi, Chihuri and ZRP for $3,000 - A FORMER M...

by Liberty Dube | 22 November 2014 | 1263 Views

Marriage-wrecker trapped, caught pants down - RESIDENTS of Hobhouse hi...

by Ray Bande | 22 November 2014 | 2159 Views

Didymus Mutasa responds to assassination plot claims - UNDER-fire Pres...

by Staff reporter | 22 November 2014 | 2519 Views

Ousted Zanu-PF executive wipes out party bank account - AT LEAST $8 20...

by Abel Zhakata | 22 November 2014 | 1309 Views

'Didymus Mutasa must go now' - MINISTER of Presidential Affairs Didymu...

by Cletus Mushanawani | 22 November 2014 | 1363 Views

'Kaukonde's O' Level certificate fake,' claims Grace Mugabe - GRACE Mu...

by Staff reporter | 22 November 2014 | 1873 Views

White farmers must sue the filthy rich occupying the seized farm and n...

by Wilbert Mukori | 22 November 2014 | 719 Views

Help Zimbabwe or expect more refugees, Chinamasa tells SA - FINANCE Mi...

by Staff Reporter I Agencies | 22 November 2014 | 817 Views

Man bashes mum over 'too little' food - A 27-YEAR-OLD man from Bulaway...

by Nokusa Masuku | 22 November 2014 | 513 Views

Mugabe 2002 Presidential 'Victory', was flawed, said SA Judicial inqui...

by Lft Gen Simbarashe Mujeye | 22 November 2014 | 607 Views

Church robbers jailed - Three robbers who broke into the Glen Norah B ...

by Court Reporter | 22 November 2014 | 455 Views

HIV+ boss 'rapes' employee - A MARRIED HIV positive businessman from ...

by Sukulwenkosi Dube | 22 November 2014 | 827 Views

Robbers arrested after a shoot-out with cops - Police arrested eight r...

by Felex Share | 22 November 2014 | 763 Views

Mzilikazi high pupils caught indulging in sex in classroom

by Staff Reporter | 22 November 2014 | 2295 Views

Landlord bashes up tenant over unpaid rent - A MAN from Makokoba subur...

by Thubelihle Mabhena | 22 November 2014 | 616 Views

Zimbabweans welcome Obama's immigration plan - WASHINGTON DC - Zimbabw...

by Gibbs Dube | 22 November 2014 | 1281 Views

'Zanu-PF infighting normal party politics,' says EU Ambassador - The ...

by Irwin Chifera | 22 November 2014 | 665 Views

Mugabe cannot fire Mujuru - President Robert Mugabe does not have cons...

by Thomas Chiripasi | 22 November 2014 | 2160 Views

Govt to stagger civil servants bonuses - The government says its coff...

by Thomas Chiripasi | 22 November 2014 | 827 Views

Entertainment

Zanu-PF youths release album - ZANU-PF youths in Nyanga have recorded ...

by Talent Simbi | 22 November 2014 | 595 Views

Tuku tribute dinner postponed - With all the preparations at a very ad...

by Tuku Music | 21 November 2014 | 1972 Views

Promoters, bouncers clash

by Staff Reporter | 21 November 2014 | 1602 Views

Joy as Mthwakazi artists Unite - 5:03am, Nov 21 - ‪+27 7* *** ****: ...

by Paul Masuku | 21 November 2014 | 1153 Views

Mafikizolo billed for Zimbabwe show - South African music duo Mafikiz...

by Staff reporter | 21 November 2014 | 1904 Views

Miss Zimbabwe's bid for Miss World pageant doomed - Miss Zimbabwe Tend...

by Staff reporter | 20 November 2014 | 1709 Views

Victory for Alick Macheso

by Staff reporter | 20 November 2014 | 5364 Views

Vimbai a 'professional gold digger' - HOTSHOTS: Idris, Macky2 and JJ ...

by Staff reporter | 20 November 2014 | 4896 Views
iBlog

The Zero-day Vulnerability Cve-2014-4114 Impacting All Versions Of Microsoft Windows

new microsoft windows zero-day vulnerability - cve-2014-4114on tuesday, october 14, 2014, isight partners - in close collaboration with microsoft - announced the discovery of a zero-day vulnerability impacting all supported versions of microsoft win... Read More
SecNews 16 October 2014 ago

The Nsa Gets An Ok For Telephony Metadata Collection Yet Again

As much as we’d like to forget about the national security agency (nsa) and its mass surveillance program, it seems that there is no distracting ourselves from this unnerving reality.missing from the news for quite some time now, the issue has resu... Read More
SecNews 09 July 2014 ago