GB Holdings revenue up 52 percent

GB Holdings (GB)’s revenue grew by 52 percent to $334 million during the year ended December 31, 2020, driven by market share consolidation.
The company is the sole manufacturer of conveyor belting in Zimbabwe and one of only two in Africa. It supplies regional markets and virtually all of the country’s requirements, with a little competition from imports.

In a statement accompanying the company’s results, board chairman Godfrey Nhemachena said the increase in turnover was due to “improved market consolidation by the rubber division while a favourable product mix at the chemicals division shored up the negative impact of volume losses arising from lockdown measu