Tanganda Tea Company posted improved third-quarter financial results, with export sales cushioning the group from some persistent domestic pressures.
In its latest trading update, the listed beverage products maker and agriculture group reported that revenues were boosted by higher export volumes across key products.
The company said: “Export sales volumes for tea and avocados recorded growth, underpinned by firm demand in regional and international markets.”
Management noted that the uplift in foreign currency earnings allowed the group to maintain financial stability despite some increases in local costs.
While detailed figures were not disclosed in the trading update, the emphasis on export receipts pointed to stronger foreign currency liquidity within the business.
Tanganda’s diversified operations delivered a mixed but largely positive performance during the quarter.
The company highlighted the continued contribution of high-value crops to overall revenues.
“The agricultural segment contributed positively, with avocado and macadamia nut exports sustaining revenue growth despite softer prices,” the update read.
Avocado demand in both regional and offshore markets remained firm, helping offset a global decline in macadamia nut prices. The tea segment also performed well in external markets, though management acknowledged subdued consumption on the domestic front.
Diversification across crops is proving vital for the group, with avocado and macadamia exports providing stability against cyclical challenges in tea demand.
The company’s beverage operations, focused on packaged tea, have been under pressure locally due to weakened consumer purchasing power. However, the export channels for bulk tea maintained steady growth.
The trading update also underscored progress in Tanganda’s renewable energy programme. The company said; “Solar power projects at three estates have significantly reduced reliance on the national grid.”
This investment has been instrumental in stabilising operations, with Zimbabwe experiencing persistent electricity supply disruptions. Through generating power internally, Tanganda has been able to maintain consistent production while limiting exposure to volatile energy costs.
Analysts said this positions the company ahead of peers in managing one of the country’s most pressing industrial challenges.
Looking ahead, management said the group would continue to rely on exports and efficiency gains to sustain growth. With avocado and tea exports showing firm demand, the company expects these segments to remain central to the group’s performance. – Herald
