Cafca volumes rise 23% despite tough economy

CAFCA Limited announced a positive trading update for the first quarter ended December 31, 2024, demonstrating resilience amidst economic headwinds. Overall volumes grew by 23%, driven by a 74% surge in aluminum volumes and a 13% increase in copper-based business. Utilities and commercial sectors experienced substantial growth, with volumes increasing by 187% and 83% respectively. However, retail and distribution volumes declined by 25%, and exports fell by 39% due to foreign currency shortages. Revenue for the quarter increased by 29% compared to the prior year, supported by volume growth. CAFCA notes that trading margins remain under pressure due to increased industry competition. The company says it will focus on operational effectiveness to protect margins and drive profitability amidst ongoing challenges related to policy changes, currency instability, and power supply.