AMALGAMATED Regional Trading (ART) Corporation posted an eight percent decline in overall volumes due to the strategic scaling down of its paper business as part of its restructuring program.
The group sought to realign its operations following the “difficult” decision to temporarily shut the Mill and stop paper exports. It took the deliberate decision to stem losses and reduce exposure as foreign currency shortages persisted in Zambia and Malawi.
Export volumes for the third quarter ending June 30, 2024 declined by 28 percent with regional sales performance impacted by foreign currency challenges.