PROPLASTICS says its profit margins are under pressure from increases in prices of raw materials, which have been driven by shortages.
In a trading update for the quarter ended September 30, 2021, Proplastics group chairman Gregory Sebborn said the plastic piping manufacturer is stocking up on consumables as shortages are expected to persist into next year.
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“The major challenges in the final quarter of the year will be the supply, cost, and provision of adequate foreign currency for the importation of raw materials combined with stability in the supply of electricity,” h
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